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On February 24, 2021, Meridian Bancorp (NASDAQ:EBSB) declared a dividend payable on April 1, 2021 to its shareholders. Meridian Bancorp also announced that shareholders on the company's books on or before March 18, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Meridian Bancorp has an ex-dividend date set for for March 17, 2021. The company's current dividend payout is $0.1, which equates to a dividend yield of 2.35% at current price levels.
Understanding Ex-Dividend Dates'
Ex-dividend dates signal when company shares cease to trade with their current dividend payouts. There is a small intermission period before companies announce new dividends. 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.
Meridian Bancorp's Dividend Performance
Over the past year, Meridian Bancorp has experienced an overall upward trend regarding its dividend payouts and yields. Last year on March 18, 2020 the company's payout was $0.08, which has since grown by $0.02. Similarly, Meridian Bancorp's dividend yield in last year was 1.86%, which has since grown by 0.49%.
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.
Click here to find details on Meridian Bancorp's previous dividends.
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