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On September 16, 2020, DNP Select Income Fund (NYSE: DNP) announced shareholders can expect to receive a dividend payable on January 11, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for DNP Select Income Fund will be on December 30, 2020. The company's current dividend payout is at $0.07. That equates to a dividend yield of 7.44% at current price levels.
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.
Over the past year, DNP Select Income Fund has seen its dividend payouts remain the same and its yields climb upward overall. Last year on August 28, 2020 the company's payout sat at $0.07, which has returned to its value today. DNP Select Income Fund's dividend yield last year was 6.64%, which has since grown by 0.8%.
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.
Posted In: DNP
