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Ex-Dividend Date Insight: Newtek Business Services

·2 min read

On February 23, 2021, Newtek Business Services (NASDAQ:NEWT) declared a dividend payable on March 31, 2021 to its shareholders. Newtek Business Services also announced that shareholders on the company's books on or before March 22, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Newtek Business Services will be on March 19, 2021. The company's current dividend payout is at $0.5. That equates to a dividend yield of 9.1% 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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Newtek Business Services's Dividend Performance

Over the past year, Newtek Business Services has experienced an overall upward trend regarding its dividend payouts and yields. Last year on March 17, 2020 the company's payout was $0.44, which has since grown by $0.06. Similarly, Newtek Business Services's dividend yield in last year was 8.39%, which has since grown by 0.71%.
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.

To read more news on Newtek Business Services click here.

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