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On January 25, 2021, Westlake Chemical (NYSE:WLKP) announced shareholders can expect to receive a dividend payable on February 19, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. Westlake Chemical has an ex-dividend date set for for February 3, 2021. The company's current dividend payout is $0.47, which equates to a dividend yield of 8.64% at current price levels.
Understanding Ex-Dividend Dates'
An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. 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 Westlake Chemical's Dividend History
Over the past year, Westlake Chemical has experienced no change regarding its dividend payouts and an overall upward trend regarding its yields. Last year on January 31, 2020 the company's payout was $0.47, which has returned to its value today. Westlake Chemical's dividend yield last year was 7.86%, which has since grown by 0.78%.
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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