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PennantPark Floating Rate (NASDAQ: PFLT) declared a dividend payable on December 1, 2020 to its shareholders as of November 3, 2020. It was also announced that shareholders of PennantPark Floating Rate's stock as of November 17, 2020 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. PennantPark Floating Rate, which has a current dividend per share of $0.1, has an ex-dividend date scheduled for November 16, 2020. That equates to a dividend yield of 14.14% at current price levels.
Understanding 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. Most ex-dividend dates operate on a quarterly basis.
PennantPark Floating Rate's Dividend History
Over the past year, PennantPark Floating Rate has seen its dividend payouts remain the same and its yields climb upward overall. Last year on July 15, 2020 the company's payout sat at $0.1, which has returned to its value today. PennantPark Floating Rate's dividend yield last year was 13.64%, which has since grown by 0.5%.
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.
Click here to find details on PennantPark Floating Rate's previous dividends.
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