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Meridian Bancorp (NASDAQ:EBSB) declared a dividend payable on January 5, 2021 to its shareholders as of December 8, 2020. It was also announced that shareholders of Meridian Bancorp's stock as of December 22, 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 Meridian Bancorp will be on December 21, 2020. The company's current dividend payout is at $0.08. That equates to a dividend yield of 2.2% at current price levels.
The Significance Of An Ex-Dividend Date
Ex-dividend dates signal when company shares cease to trade with their current dividend payouts. There is a small intermission period before companies announce new dividends. 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 Meridian Bancorp's Dividend History
Over the past year, Meridian Bancorp has experienced no change regarding its dividend payouts and an overall upward trend regarding its yields. Last year on December 18, 2019 the company's payout was $0.08, which has returned to its value today. Meridian Bancorp's dividend yield last year was 1.61%, which has since grown by 0.59%.
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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