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Suburban Propane Partners (NYSE:SPH) declared a dividend payable on February 9, 2021 to its shareholders as of January 21, 2021. It was also announced that shareholders of Suburban Propane Partners's stock as of February 2, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. The ex-dividend date for Suburban Propane Partners is set for February 1, 2021. The company's current dividend payout sits at $0.3, equating to a dividend yield of 7.89% 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.
Understanding Suburban Propane Partners's Dividend Performance
Over the past year, Suburban Propane Partners has seen its dividend payouts and yields descend downward overall. Last year on February 3, 2020 the company's payout sat at $0.6, which has since decreased by $0.3. Suburban Propane Partners's dividend yield last year was 10.65%, which has since declined by 2.76%.
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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