- Oops!Something went wrong.Please try again later.
Lake Shore Bancorp (NASDAQ: LSBK) declared a dividend payable on November 19, 2020 to its shareholders as of October 23, 2020. It was also announced that shareholders of Lake Shore Bancorp's stock as of November 5, 2020 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Lake Shore Bancorp has an ex-dividend date set for for November 4, 2020. The company's current dividend payout is $0.13, which equates to a dividend yield of 4.14% at current price levels.
Understanding 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.
Lake Shore Bancorp's Dividend History
Over the past year, Lake Shore Bancorp has seen its dividend payouts and yields climb upward overall. Last year (November 6, 2019), the company's payout sat at $0.12, which has since increased by $0.01. Lake Shore Bancorp's dividend yield last year was 3.2%, which has since grown by 0.94%.
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.
To read more about Lake Shore Bancorp click here.
See more from Benzinga
© 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.