Ex-Dividend Date Insight: Voya Finl
On January 28, 2021, Voya Finl (NYSE:VOYA) declared a dividend payable on March 29, 2021 to its shareholders. Voya Finl also announced that shareholders on the company's books on or before February 26, 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 Voya Finl will be on February 25, 2021. The company's current dividend payout is at $0.17. That equates to a dividend yield of 1.2% at current price levels.
What Is An Ex-Dividend Date?
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.
Understanding Voya Finl's Dividend Payouts And Yields
Over the past year, Voya Finl has seen its dividend payouts and yields climb upward overall. Last year (February 27, 2020), the company's payout sat at $0.15, which has since increased by $0.02. Voya Finl's dividend yield last year was 0.99%, which has since grown by 0.21%.
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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