Ex-Dividend Date Insight: Covanta Holding
On March 4, 2021, Covanta Holding (NYSE:CVA) announced shareholders can expect to receive a dividend payable on April 9, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. Covanta Holding has an ex-dividend date planned for March 24, 2021. The company's current dividend payout sits at $0.08. That equates to a dividend yield of 2.26% at current price levels.
What Is An Ex-Dividend Date?
Ex-dividend dates are when company shares stop trading with their current dividend payouts in preparation for those companies to announce new ones. 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. Typically, companies will announce and implement new dividend yields on a quarterly basis.
Understanding Covanta Holding's Dividend Performance
Over the past year, Covanta Holding has seen its dividend payouts and yields descend downward overall. Last year on March 26, 2020 the company's payout sat at $0.25, which has since decreased by $0.17. Covanta Holding's dividend yield last year was 8.45%, which has since declined by 6.19%.
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.
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