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Ex-Dividend Date Insight: Cushing Renaissance Fund

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Benzinga Insights
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Cushing Renaissance Fund (NYSE:SZC) declared a dividend payable on January 29, 2021 to its shareholders as of December 1, 2020. It was also announced that shareholders of Cushing Renaissance Fund's stock as of January 19, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 2 business day(s) before the record date. The ex-dividend date for Cushing Renaissance Fund is set for January 15, 2021. The company's current dividend payout sits at $0.21, equating to a dividend yield of 7.16% 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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Cushing Renaissance Fund's Dividend History

Over the past year, Cushing Renaissance Fund has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on September 14, 2020 the company's payout was $0.21, which has returned to its value today. Cushing Renaissance Fund's dividend yield last year was 8.23%, which has since decreased by 1.07%.
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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