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On January 29, 2021, Hubbell (NYSE:HUBB) declared a dividend payable on March 15, 2021 to its shareholders. Hubbell 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. Hubbell, whose current dividend payout is $0.98, has an ex-dividend date set at February 25, 2021. The payout equates to a dividend yield of 2.45% at current price levels.
The Significance Of 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. Typically, companies will announce and implement new dividend yields on a quarterly basis.
Understanding Hubbell's Dividend Performance
Over the past year, Hubbell has experienced an overall upward trend regarding its dividend payouts and a downward trend regarding its yields. Last year on February 27, 2020 the company's payout was $0.91, which has since grown by $0.07. Hubbell's dividend yield last year was 2.46%, which has since decreased by 0.01%.
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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