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On December 17, 2020, Steelcase (NYSE:SCS) declared a dividend payable on January 11, 2021 to its shareholders. Steelcase also announced that shareholders on the company's books on or before December 28, 2020 are entitled to the dividend. The stock will then go ex-dividend 2 business day(s) before the record date. Steelcase has an ex-dividend date planned for December 24, 2020. The company's current dividend payout sits at $0.1. That equates to a dividend yield of 2.93% 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.
Steelcase's Dividend Performance
Over the past year, Steelcase has experienced an overall downward trend regarding its dividend payouts and yields. Last year on December 26, 2019 the company's payout was $0.14, which has since decreased by $0.04. Similarly, Steelcase's dividend yield last year was 3.04%, which has since declined by 0.11%.
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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