Analyzing Sterling Bancorp's Ex-Dividend Date

Author: Benzinga Insights | July 29, 2021 09:47am

Sterling Bancorp (NYSE:STL) declared a dividend payable on August 16, 2021 to its shareholders as of July 21, 2021. It was also announced that shareholders of Sterling Bancorp's stock as of August 2, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Sterling Bancorp, whose current dividend payout is $0.07, has an ex-dividend date set at July 30, 2021. The payout equates to a dividend yield of 1.29% at current price levels.

The Significance Of Ex-Dividend Dates

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 Sterling Bancorp's Dividend Payouts And Yields

Over the past year, Sterling Bancorp has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on July 31, 2020 the company's payout was $0.07, which has returned to its value today. Sterling Bancorp's dividend yield last year was 2.45%, which has since decreased by 1.16%.
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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Posted In: STL