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Understanding New York Community's Ex-Dividend Date

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Benzinga Insights
·2 min read
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On January 27, 2021, New York Community (NYSE:NYCB) declared a dividend payable on February 16, 2021 to its shareholders. New York Community also announced that shareholders on the company's books on or before February 6, 2021 are entitled to the dividend. The stock will then go ex-dividend 2 business day(s) before the record date. New York Community has an ex-dividend date set for for February 4, 2021. The company's current dividend payout is $0.17, which equates to a dividend yield of 6.2% at current price levels.

The Significance Of Ex-Dividend Dates

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

New York Community's Dividend Payouts And Yields

Over the past year, New York Community has experienced no change regarding its dividend payouts and an overall upward trend regarding its yields. Last year on February 7, 2020 the company's payout was $0.17, which has returned to its value today. New York Community's dividend yield last year was 5.8%, which has since grown by 0.4%.
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 New York Community click here.

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