Ex-Dividend Date Insight: Loews
Loews (NYSE:L) declared a dividend payable on March 9, 2021 to its shareholders as of February 9, 2021. It was also announced that shareholders of Loews's stock as of February 24, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Loews, whose current dividend payout is $0.06, has an ex-dividend date set at February 23, 2021. The payout equates to a dividend yield of 0.52% at current price levels.
What Are Ex-Dividend Dates?
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. Most ex-dividend dates operate on a quarterly basis.
Understanding Loews's Dividend History
Over the past year, Loews has seen its dividend payouts remain the same and its yields climb upward overall. Last year on February 25, 2020 the company's payout sat at $0.06, which has returned to its value today. Loews's dividend yield last year was 0.45%, which has since grown by 0.07%.
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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