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On October 16, 2020, Putnam Premier Income (NYSE: PPT) announced shareholders can expect to receive a dividend payable on December 1, 2020. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Putnam Premier Income is set for November 23, 2020. The company's current dividend payout sits at $0.04, equating to a dividend yield of 9.25% at current price levels.
The Significance Of An Ex-Dividend Date
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.
Understanding Putnam Premier Income's Dividend History
Over the past year, Putnam Premier Income has seen its dividend payouts remain the same and its yields climb upward overall. Last year on July 23, 2020 the company's payout sat at $0.04, which has returned to its value today. Putnam Premier Income's dividend yield last year was 8.61%, which has since grown by 0.64%.
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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