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On February 17, 2021, CyrusOne (NASDAQ:CONE) 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. CyrusOne, whose current dividend payout is $0.51, has an ex-dividend date set at March 25, 2021. The payout equates to a dividend yield of 2.88% at current price levels.
The Significance Of Ex-Dividend Dates
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.
CyrusOne's Dividend History
Over the past year, CyrusOne has seen its dividend payouts climb upward and its yields trend downward. Last year on March 26, 2020 the company's payout sat at $0.5, which has since increased by $0.01. CyrusOne's dividend yield last year was 2.99%, which has since decreased by 0.11%.
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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