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Avista (NYSE:AVA) declared a dividend payable on December 15, 2020 to its shareholders as of November 9, 2020. It was also announced that shareholders of Avista's stock as of December 3, 2020 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. The ex-dividend date for Avista is set for December 2, 2020. The company's current dividend payout sits at $0.41, equating to a dividend yield of 4.77% at current price levels.
What Are Ex-Dividend Dates?
An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. 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.
Understanding Avista's Dividend Payouts And Yields
Over the past year, Avista has seen its dividend payouts and yields climb upward overall. Last year (November 20, 2019), the company's payout sat at $0.39, which has since increased by $0.02. Avista's dividend yield last year was 3.26%, which has since grown by 1.51%.
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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