Ex-Dividend Date Insight: Eaton Vance
Eaton Vance (NYSE:EOI) declared a dividend payable on December 31, 2020 to its shareholders as of December 1, 2020. It was also announced that shareholders of Eaton Vance's stock as of December 24, 2020 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. The ex-dividend date for Eaton Vance is set for December 23, 2020. The company's current dividend payout sits at $0.09, equating to a dividend yield of 6.91% 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.
Eaton Vance's Dividend Payouts And Yields
Over the past year, Eaton Vance has seen its dividend payouts remain the same and its yields trend downward. Last year on August 21, 2020 the company's payout sat at $0.09, which has returned to its value today. Eaton Vance's dividend yield last year was 7.11%, which has since decreased by 0.2%.
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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