Understanding Penns Woods Bancorp's Ex-Dividend Date
On February 23, 2021, Penns Woods Bancorp (NASDAQ:PWOD) declared a dividend payable on March 23, 2021 to its shareholders. Penns Woods Bancorp also announced that shareholders on the company's books on or before March 9, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Penns Woods Bancorp, whose current dividend payout is $0.32, has an ex-dividend date set at March 8, 2021. The payout equates to a dividend yield of 5.49% at current price levels.
The Significance Of An Ex-Dividend Date
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.
Penns Woods Bancorp's Dividend History
Over the past year, Penns Woods Bancorp has experienced no change regarding its dividend payouts and an overall upward trend regarding its yields. Last year on March 9, 2020 the company's payout was $0.32, which has returned to its value today. Penns Woods Bancorp's dividend yield last year was 4.0%, which has since grown by 1.49%.
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.
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