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On October 22, 2020, Patterson-UTI Energy (NASDAQ:PTEN) announced shareholders can expect to receive a dividend payable on December 17, 2020. The stock will then go ex-dividend 1 business day(s) before the record date. Patterson-UTI Energy, whose current dividend payout is $0.02, has an ex-dividend date set at December 2, 2020. The payout equates to a dividend yield of 3.07% at current price levels.
What Are Ex-Dividend Dates?
An ex-dividend date is when a company's shares stop trading with its current dividend payout in preparation for the company to announce a new one. 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.
Patterson-UTI Energy's Dividend Performance
Over the past year, Patterson-UTI Energy has experienced an overall downward trend regarding its dividend payouts and an upward trend regarding its yields. Last year on December 4, 2019 the company's payout was $0.04, which has since decreased by $0.02. Patterson-UTI Energy's dividend yield last year was 1.85%, which has since grown by 1.22%.
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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