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Understanding NIC's Ex-Dividend Date

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Benzinga Insights
·2 min read
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NIC (NASDAQ:EGOV) declared a dividend payable on March 17, 2021 to its shareholders as of February 1, 2021. It was also announced that shareholders of NIC's stock as of March 3, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. NIC, which has a current dividend per share of $0.09, has an ex-dividend date scheduled for March 2, 2021. That equates to a dividend yield of 1.34% at current price levels.

The Significance Of 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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Understanding NIC's Dividend History

Over the past year, NIC has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on March 3, 2020 the company's payout was $0.09, which has returned to its value today. NIC's dividend yield last year was 1.59%, which has since decreased by 0.25%.
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 NIC click here.

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