- Oops!Something went wrong.Please try again later.
On January 14, 2021, AZZ (NYSE:AZZ) declared a dividend payable on February 9, 2021 to its shareholders. AZZ also announced that shareholders on the company's books on or before January 26, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. AZZ has an ex-dividend date set for for January 25, 2021. The company's current dividend payout is $0.17, which equates to a dividend yield of 1.38% at current price levels.
The Significance Of An Ex-Dividend Date
An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Most ex-dividend dates operate on a quarterly basis.
AZZ's Dividend History
Over the past year, AZZ has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on January 31, 2020 the company's payout was $0.17, which has returned to its value today. AZZ's dividend yield last year was 1.51%, which has since decreased by 0.13%.
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market.
To read more news on AZZ click here.
See more from Benzinga
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.