S&P 500   4,191.98
DOW   33,426.63
QQQ   336.51
Mount Etna volcano erupts, raining ash on Catania, forcing flight suspension at local airport
"How war impacts the stock market" (Ad)
China tells tech manufacturers to stop using Micron chips, stepping up feud with United States
Stock market today: Asian shares mostly rise despite worries about US debt talks
Avoid the upcoming bloodbath (Ad)
SpaceX launches two Saudi astronauts on private flight to space station
Civil rights groups warn tourists about Florida in wake of 'hostile' laws
Avoid the upcoming bloodbath (Ad)
South Korean, German leaders agree to cooperate on supply chains, North Korea
Animal rights activists protest octopus farm plans in Spain
S&P 500   4,191.98
DOW   33,426.63
QQQ   336.51
Mount Etna volcano erupts, raining ash on Catania, forcing flight suspension at local airport
"How war impacts the stock market" (Ad)
China tells tech manufacturers to stop using Micron chips, stepping up feud with United States
Stock market today: Asian shares mostly rise despite worries about US debt talks
Avoid the upcoming bloodbath (Ad)
SpaceX launches two Saudi astronauts on private flight to space station
Civil rights groups warn tourists about Florida in wake of 'hostile' laws
Avoid the upcoming bloodbath (Ad)
South Korean, German leaders agree to cooperate on supply chains, North Korea
Animal rights activists protest octopus farm plans in Spain
S&P 500   4,191.98
DOW   33,426.63
QQQ   336.51
Mount Etna volcano erupts, raining ash on Catania, forcing flight suspension at local airport
"How war impacts the stock market" (Ad)
China tells tech manufacturers to stop using Micron chips, stepping up feud with United States
Stock market today: Asian shares mostly rise despite worries about US debt talks
Avoid the upcoming bloodbath (Ad)
SpaceX launches two Saudi astronauts on private flight to space station
Civil rights groups warn tourists about Florida in wake of 'hostile' laws
Avoid the upcoming bloodbath (Ad)
South Korean, German leaders agree to cooperate on supply chains, North Korea
Animal rights activists protest octopus farm plans in Spain
S&P 500   4,191.98
DOW   33,426.63
QQQ   336.51
Mount Etna volcano erupts, raining ash on Catania, forcing flight suspension at local airport
"How war impacts the stock market" (Ad)
China tells tech manufacturers to stop using Micron chips, stepping up feud with United States
Stock market today: Asian shares mostly rise despite worries about US debt talks
Avoid the upcoming bloodbath (Ad)
SpaceX launches two Saudi astronauts on private flight to space station
Civil rights groups warn tourists about Florida in wake of 'hostile' laws
Avoid the upcoming bloodbath (Ad)
South Korean, German leaders agree to cooperate on supply chains, North Korea
Animal rights activists protest octopus farm plans in Spain

Ex-Dividend Calendar

Below you will find a calendar of stocks going ex-dividend during the week of 5/22/2023. In order to receive a dividend, shares of a stock must be purchased no later than the last trading day before the ex-dividend date. Learn more about ex-dividend dates.

MarketRank evaluates a company based on community opinion, dividend strength, institutional and insider ownership, earnings and valuation, and analysts forecasts.
Available with a MarketBeat All Access Subscription
MarketRank™Upgrade to All Access to use the All Ranks Filter
Media sentiment refers to the percentage of positive news stories versus negative news stories a company has received in the past week.
Available with a MarketBeat All Access Subscription
Media SentimentUpgrade to All Access to use the All Sentiments Filter
Analyst consensus is the average investment recommendation among Wall Street research analysts.
Available with a MarketBeat All Access Subscription
Analyst ConsensusUpgrade to All Access to use the All Ratings Filter
CompanyPeriodAmountYieldEx-Dividend DateRecord DatePayable DateIndicator(s)
ADTRAN Holdings, Inc. stock logo
ADTN
ADTRAN
quarterly$0.094.20%5/22/20235/23/20236/6/2023
ArcelorMittal S.A. stock logo
MT
ArcelorMittal
annual$0.381.20%5/22/20235/23/20236/15/2023
Eni S.p.A. stock logo
E
ENI
--$0.46645.40%5/22/20235/23/20236/8/2023
Flaherty & Crumrine Preferred Income Opportunity Fund Inc. stock logo
PFO
Flaherty & Crumrine Preferred Income Opportunity Fund
$0.04707.14%5/22/20235/23/20235/31/2023Dividend Cut
News Coverage
GE HealthCare Technologies Inc. stock logo
GEHC
GE HealthCare Technologies
quarterly$0.030.15%5/22/20235/23/20236/15/2023
Gladstone Capital Co. stock logo
GLAD
Gladstone Capital
monthly$0.089.50%5/22/20235/23/20235/31/2023News Coverage
Gladstone Commercial Co. stock logo
GOOD
Gladstone Commercial
monthly$0.109.70%5/22/20235/23/20235/31/2023
Gladstone Investment Co. stock logo
GAIN
Gladstone Investment
$0.087.08%5/22/20235/23/20235/31/2023Dividend Cut
Gladstone Land Co. stock logo
LAND
Gladstone Land
monthly$0.04603.30%5/22/20235/23/20235/31/2023Analyst Revision
Hennessy Advisors, Inc. stock logo
HNNA
Hennessy Advisors
quarterly$0.13807.91%5/22/20235/23/20236/5/2023High Trading Volume
Johnson & Johnson stock logo
JNJ
Johnson & Johnson
quarterly$1.192.96%5/22/20235/23/20236/6/2023
Karat Packaging Inc. stock logo
KRT
Karat Packaging
$0.355/22/20235/23/20235/31/2023
LTC Properties, Inc. stock logo
LTC
LTC Properties
monthly$0.196.90%5/22/20235/23/20235/31/2023
Nordson Co. stock logo
NDSN
Nordson
quarterly$0.651.20%5/22/20235/23/20236/6/2023
Ormat Technologies, Inc. stock logo
ORA
Ormat Technologies
quarterly$0.120.60%5/22/20235/23/20236/6/2023Positive News
P&F Industries, Inc. stock logo
PFIN
P&F Industries
quarterly$0.053.48%5/22/20235/23/20236/1/2023
Prudential Financial, Inc. stock logo
PRU
Prudential Financial
quarterly$1.256.13%5/22/20235/23/20236/15/2023Analyst Revision
Southside Bancshares, Inc. stock logo
SBSI
Southside Bancshares
quarterly$0.354.94%5/22/20235/23/20236/6/2023
Spectrum Brands Holdings, Inc. stock logo
SPB
Spectrum Brands
quarterly$0.422.35%5/22/20235/23/20236/8/2023
Tempur Sealy International, Inc. stock logo
TPX
Tempur Sealy International
quarterly$0.111.17%5/22/20235/23/20236/6/2023
Tenaris S.A. stock logo
TS
Tenaris
semi-annual$0.685/22/20235/23/20235/24/2023
TORM plc stock logo
TRMD
TORM
quarterly$1.4616.70%5/22/20235/23/20236/6/2023
Valero Energy Co. stock logo
VLO
Valero Energy
quarterly$1.023.76%5/22/20235/23/20236/22/2023Analyst Report
Warner Music Group Corp. stock logo
WMG
Warner Music Group
quarterly$0.162.53%5/22/20235/23/20236/1/2023
Western Asset Emerging Markets Debt Fund Inc. stock logo
EMD
Western Asset Emerging Markets Debt Fund
monthly$0.079.10%5/22/20235/23/20236/1/2023Dividend Announcement
Western Asset Emerging Markets Debt Fund Inc. stock logo
EMD
Western Asset Emerging Markets Debt Fund
monthly$0.0710.20%5/22/20235/23/20236/1/2023Dividend Announcement
Western Asset Investment Grade Income Fund Inc. stock logo
PAI
Western Asset Investment Grade Income Fund
monthly$0.04654.50%5/22/20235/23/20236/1/2023Dividend Announcement
News Coverage
Positive News
Western Asset Managed Municipals Fund Inc. stock logo
MMU
Western Asset Managed Municipals Fund
monthly$0.03604.19%5/22/20235/23/20236/1/2023Dividend Increase
Positive News
Western Asset Managed Municipals Fund Inc. stock logo
MMU
Western Asset Managed Municipals Fund
monthly$0.03654.20%5/22/20235/23/20236/1/2023Dividend Increase
Positive News
Western Asset Municipal High Income Fund Inc. stock logo
MHF
Western Asset Municipal High Income Fund
monthly$0.01983.60%5/22/20235/23/20236/1/2023Dividend Announcement
Westlake Co. stock logo
WLK
Westlake
quarterly$0.35701.24%5/22/20235/23/20236/8/2023
Wynn Resorts, Limited stock logo
WYNN
Wynn Resorts
quarterly$0.250.90%5/22/20235/23/20236/6/2023
Amcor plc stock logo
AMCR
Amcor
quarterly$0.12254.49%5/23/20235/24/20236/20/2023Analyst Revision
Broadmark Realty Capital Inc. stock logo
BRMK
Broadmark Realty Capital
monthly$0.03508.80%5/23/20235/24/20235/30/2023
Crescent Energy stock logo
CRGY
Crescent Energy
quarterly$0.124.78%5/23/20235/24/20236/7/2023Positive News
Equinix, Inc. stock logo
EQIX
Equinix
quarterly$3.411.96%5/23/20235/24/20236/21/2023Positive News
Excelerate Energy, Inc. stock logo
EE
Excelerate Energy
quarterly$0.02500.45%5/23/20235/24/20236/8/2023Positive News
First BanCorp. stock logo
FBP
First BanCorp.
quarterly$0.144.80%5/23/20235/24/20236/9/2023
Gildan Activewear Inc. stock logo
GIL
Gildan Activewear
quarterly$0.18602.50%5/23/20235/24/20236/19/2023
Global Ship Lease, Inc. stock logo
GSL
Global Ship Lease
quarterly$0.37508.09%5/23/20235/24/20236/2/2023
Ingersoll Rand Inc. stock logo
IR
Ingersoll Rand
quarterly$0.020.14%5/23/20235/24/20236/22/2023
Loews Co. stock logo
L
Loews
quarterly$0.06250.43%5/23/20235/24/20236/6/2023
Manulife Financial Co. stock logo
MFC
Manulife Financial
quarterly$0.26905.54%5/23/20235/24/20236/19/2023Positive News
Putnam Managed Municipal Income Trust stock logo
PMM
Putnam Managed Municipal Income Trust
$0.02384.81%5/23/20235/24/20236/1/2023Dividend Announcement
News Coverage
Positive News
Putnam Master Intermediate Income Trust stock logo
PIM
Putnam Master Intermediate Income Trust
monthly$0.02208.40%5/23/20235/24/20236/1/2023Positive News
Putnam Municipal Opportunities Trust stock logo
PMO
Putnam Municipal Opportunities Trust
monthly$0.03504.20%5/23/20235/24/20236/1/2023Positive News
Putnam Premier Income Trust stock logo
PPT
Putnam Premier Income Trust
monthly$0.02608.70%5/23/20235/24/20236/1/2023Positive News
Regional Management Corp. stock logo
RM
Regional Management
quarterly$0.304.60%5/23/20235/24/20236/14/2023News Coverage
SandRidge Energy, Inc. stock logo
SD
SandRidge Energy
$2.005/23/20235/24/20236/7/2023
SLR Investment Corp. stock logo
SLRC
SLR Investment
monthly$0.137011.90%5/23/20235/24/20236/1/2023
Spirit Airlines, Inc. stock logo
SAVE
Spirit Airlines
$0.103.16%5/23/20235/24/20235/31/2023Dividend Announcement
Teradyne, Inc. stock logo
TER
Teradyne
quarterly$0.110.48%5/23/20235/24/20236/16/2023
Teradyne, Inc. stock logo
TER
Teradyne
quarterly$0.110.48%5/23/20235/24/20236/16/2023
Teradyne, Inc. stock logo
TER
Teradyne
quarterly$0.110.48%5/23/20235/24/20236/16/2023
Tetra Tech, Inc. stock logo
TTEK
Tetra Tech
quarterly$0.260.72%5/23/20235/24/20236/6/2023
The Cheesecake Factory Incorporated stock logo
CAKE
Cheesecake Factory
quarterly$0.273.40%5/23/20235/24/20236/6/2023
Tortoise Energy Infrastructure Co. stock logo
TYG
Tortoise Energy Infrastructure
quarterly$0.719.81%5/23/20235/24/20235/31/2023
VAALCO Energy, Inc. stock logo
EGY
VAALCO Energy
quarterly$0.06306.09%5/23/20235/24/20236/23/2023
Viatris Inc. stock logo
VTRS
Viatris
quarterly$0.125.17%5/23/20235/24/20236/16/2023
Applied Materials, Inc. stock logo
AMAT
Applied Materials
quarterly$0.321.10%5/24/20235/25/20236/15/2023Earnings Report
Analyst Report
Options Volume
Analyst Revision
Autoliv, Inc. stock logo
ALV
Autoliv
quarterly$0.662.97%5/24/20235/25/20236/13/2023
Barnes Group Inc. stock logo
B
Barnes Group
quarterly$0.161.54%5/24/20235/25/20236/9/2023
CDW Co. stock logo
CDW
CDW
quarterly$0.591.41%5/24/20235/25/20236/13/2023Dividend Announcement
Chemed Co. stock logo
CHE
Chemed
quarterly$0.380.30%5/24/20235/25/20236/14/2023Dividend Announcement
CSP Inc. stock logo
CSPI
CSP
quarterly$0.041.10%5/24/20235/25/20236/13/2023Gap Up
Discover Financial Services stock logo
DFS
Discover Financial Services
quarterly$0.702.65%5/24/20235/25/20236/8/2023
Equifax Inc. stock logo
EFX
Equifax
quarterly$0.390.79%5/24/20235/25/20236/15/2023Analyst Revision
Forward Air Co. stock logo
FWRD
Forward Air
quarterly$0.240.97%5/24/20235/25/20236/13/2023
Griffon Co. stock logo
GFF
Griffon
quarterly$0.12501.76%5/24/20235/25/20236/15/2023Analyst Downgrade
H&E Equipment Services, Inc. stock logo
HEES
H&E Equipment Services
quarterly$0.27503.08%5/24/20235/25/20236/9/2023
International Game Technology PLC stock logo
IGT
International Game Technology
quarterly$0.202.97%5/24/20235/25/20236/8/2023
John Bean Technologies Co. stock logo
JBT
John Bean Technologies
quarterly$0.100.38%5/24/20235/25/20236/8/2023
Littelfuse, Inc. stock logo
LFUS
Littelfuse
quarterly$0.600.91%5/24/20235/25/20236/8/2023
Marriott Vacations Worldwide Co. stock logo
VAC
Marriott Vacations Worldwide
quarterly$0.722.34%5/24/20235/25/20236/8/2023
Psychemedics Co. stock logo
PMD
Psychemedics
quarterly$0.075.21%5/24/20235/25/20236/8/2023
Robert Half International Inc. stock logo
RHI
Robert Half International
quarterly$0.482.71%5/24/20235/25/20236/15/2023
Spok Holdings, Inc. stock logo
SPOK
Spok
quarterly$0.31309.66%5/24/20235/25/20236/23/2023
Tekla Healthcare Investors stock logo
HQH
Tekla Healthcare Investors
quarterly$0.409.60%5/24/20235/25/20236/30/2023Dividend Cut
News Coverage
Tekla Life Sciences Investors stock logo
HQL
Tekla Life Sciences Investors
quarterly$0.329.40%5/24/20235/25/20236/30/2023Dividend Cut
News Coverage
High Trading Volume
TPG Inc. stock logo
TPG
TPG
quarterly$0.202.88%5/24/20235/25/20236/5/2023Dividend Cut
Analyst Report
Gap Up
Vinci Partners Investments Ltd. stock logo
VINP
Vinci Partners Investments
quarterly$0.168.00%5/24/20235/25/20236/9/2023Gap Up
High Trading Volume
Avista Co. stock logo
AVA
Avista
quarterly$0.464.18%5/25/20235/26/20236/15/2023Analyst Revision
Avista Co. stock logo
AVA
Avista
quarterly$0.464.18%5/25/20235/26/20236/15/2023Analyst Revision
Badger Meter, Inc. stock logo
BMI
Badger Meter
quarterly$0.22500.68%5/25/20235/26/20236/6/2023
Burford Capital Limited stock logo
BUR
Burford Capital
semi-annual$0.06253.60%5/25/20235/26/20236/16/2023
Cabot Co. stock logo
CBT
Cabot
quarterly$0.402.27%5/25/20235/26/20236/9/2023
Centerra Gold Inc. stock logo
CGAU
Centerra Gold
quarterly$0.05203.80%5/25/20235/29/20236/12/2023Earnings Report
Dividend Cut
Analyst Revision
Coterra Energy Inc. stock logo
CTRA
Coterra Energy
quarterly$0.203.19%5/25/20235/26/20236/9/2023Analyst Report
Danaos Co. stock logo
DAC
Danaos
quarterly$0.754.86%5/25/20235/26/20236/7/2023Dividend Announcement
Embecta Corp. stock logo
EMBC
Embecta
quarterly$0.151.96%5/25/20235/29/20236/13/2023
Embecta Corp. stock logo
EMBC
Embecta
quarterly$0.151.96%5/25/20235/29/20236/13/2023
Evercore Inc. stock logo
EVR
Evercore
quarterly$0.762.78%5/25/20235/26/20236/9/2023
First National Co. stock logo
FXNC
First National
quarterly$0.154.09%5/25/20235/26/20236/9/2023
Fortive Co. stock logo
FTV
Fortive
quarterly$0.070.44%5/25/20235/26/20236/30/2023Positive News
Fortune Brands Innovations, Inc. stock logo
FBIN
Fortune Brands Innovations
quarterly$0.231.40%5/25/20235/26/20236/14/2023Dividend Announcement
Golden Ocean Group Limited stock logo
GOGL
Golden Ocean Group
quarterly$0.104.73%5/25/20235/26/20236/6/2023Dividend Cut
Herc Holdings Inc. stock logo
HRI
Herc
quarterly$0.63202.52%5/25/20235/26/20236/9/2023Positive News
Huntington Ingalls Industries, Inc. stock logo
HII
Huntington Ingalls Industries
quarterly$1.242.52%5/25/20235/26/20236/9/2023High Trading Volume
International Paper stock logo
IP
International Paper
quarterly$0.46255.76%5/25/20235/26/20236/15/2023
Jack Henry & Associates, Inc. stock logo
JKHY
Jack Henry & Associates
quarterly$0.521.33%5/25/20235/26/20236/15/2023Dividend Announcement
Analyst Revision
High Trading Volume
Jacobs Solutions Inc. stock logo
J
Jacobs Solutions
quarterly$0.260.90%5/25/20235/26/20236/23/2023
Koppers Holdings Inc. stock logo
KOP
Koppers
quarterly$0.060.70%5/25/20235/26/20236/12/2023
Marriott International, Inc. stock logo
MAR
Marriott International
quarterly$0.521.19%5/25/20235/26/20236/30/2023Analyst Revision
Masco Co. stock logo
MAS
Masco
quarterly$0.28502.17%5/25/20235/26/20236/12/2023
Mativ Holdings, Inc. stock logo
MATV
Mativ
quarterly$0.409.20%5/25/20235/26/20236/23/2023Positive News
National Bank Holdings Co. stock logo
NBHC
National Bank
quarterly$0.263.50%5/25/20235/26/20236/15/2023
North American Construction Group Ltd. stock logo
NOA
North American Construction Group
quarterly$0.07401.57%5/25/20235/26/20237/7/2023
Nu Skin Enterprises, Inc. stock logo
NUS
Nu Skin Enterprises
quarterly$0.394.10%5/25/20235/26/20236/7/2023Analyst Revision
Perella Weinberg Partners stock logo
PWP
Perella Weinberg Partners
quarterly$0.073.77%5/25/20235/26/20236/9/2023
Piedmont Office Realty Trust, Inc. stock logo
PDM
Piedmont Office Realty Trust
quarterly$0.2113.10%5/25/20235/26/20236/16/2023
Piper Sandler Companies stock logo
PIPR
Piper Sandler Companies
quarterly$0.601.90%5/25/20235/26/20236/9/2023Positive News
Prospect Capital Co. stock logo
PSEC
Prospect Capital
monthly$0.0611.48%5/25/20235/26/20236/21/2023Dividend Announcement
Positive News
Reliance Steel & Aluminum Co. stock logo
RS
Reliance Steel & Aluminum
quarterly$1.001.56%5/25/20235/26/20236/9/2023
S&P Global Inc. stock logo
SPGI
S&P Global
quarterly$0.901.01%5/25/20235/26/20236/12/2023
Safe Bulkers, Inc. stock logo
SB
Safe Bulkers
quarterly$0.055.60%5/25/20235/26/20236/7/2023Positive News
SBA Communications Co. stock logo
SBAC
SBA Communications
quarterly$0.851.30%5/25/20235/26/20236/21/2023
Strategic Education, Inc. stock logo
STRA
Strategic Education
quarterly$0.602.60%5/25/20235/26/20236/5/2023Dividend Announcement
The Scotts Miracle-Gro Company stock logo
SMG
Scotts Miracle-Gro
quarterly$0.663.80%5/25/20235/26/20236/9/2023
United States Lime & Minerals, Inc. stock logo
USLM
United States Lime & Minerals
quarterly$0.200.50%5/25/20235/26/20236/16/2023High Trading Volume
Voya Financial, Inc. stock logo
VOYA
Voya Financial
quarterly$0.201.00%5/25/20235/26/20236/28/2023Analyst Revision
Vulcan Materials stock logo
VMC
Vulcan Materials
quarterly$0.430.88%5/25/20235/26/20236/9/2023
Weyco Group, Inc. stock logo
WEYS
Weyco Group
quarterly$0.253.83%5/25/20235/26/20236/30/2023Analyst Downgrade
Adeia Inc. stock logo
ADEA
Adeia
quarterly$0.052.49%5/26/20235/30/20236/20/2023
Aegon stock logo
AEG
Aegon
semi-annual$0.12883.60%5/26/20235/30/20236/29/2023Upcoming Earnings
Assurant, Inc. stock logo
AIZ
Assurant
quarterly$0.702.17%5/26/20235/30/20236/20/2023Analyst Revision
Positive News
Baker Hughes stock logo
BKR
Baker Hughes
quarterly$0.192.77%5/26/20235/30/20236/9/2023Dividend Announcement
Cactus, Inc. stock logo
WHD
Cactus
quarterly$0.111.16%5/26/20235/30/20236/15/2023Analyst Report
Carter's, Inc. stock logo
CRI
Carter's
quarterly$0.754.80%5/26/20235/30/20236/9/2023Dividend Announcement
Cathay General Bancorp stock logo
CATY
Cathay General Bancorp
quarterly$0.344.49%5/26/20235/30/20236/9/2023Dividend Announcement
CRA International, Inc. stock logo
CRAI
CRA International
quarterly$0.361.52%5/26/20235/30/20236/9/2023
Grupo Aeroportuario del Sureste, S. A. B. de C. V. stock logo
ASR
Grupo Aeroportuario del Sureste, S. A. B. de C. V.
annual$5.65282.70%5/26/20235/30/20236/12/2023Dividend Cut
Grupo Televisa, S.A.B. stock logo
TV
Grupo Televisa, S.A.B.
annual$0.09851.60%5/26/20235/30/20236/12/2023Dividend Increase
Positive News
Hyatt Hotels Co. stock logo
H
Hyatt Hotels
--$0.155/26/20235/30/20236/12/2023
KeyCorp stock logo
KEY
KeyCorp
quarterly$0.20509.02%5/26/20235/30/20236/15/2023
LyondellBasell Industries stock logo
LYB
LyondellBasell Industries
quarterly$1.255.55%5/26/20235/30/20236/6/2023Dividend Increase
MKS Instruments, Inc. stock logo
MKSI
MKS Instruments
quarterly$0.221.01%5/26/20235/30/20236/9/2023Dividend Announcement
Natural Grocers by Vitamin Cottage, Inc. stock logo
NGVC
Natural Grocers by Vitamin Cottage
quarterly$0.103.40%5/26/20235/30/20236/14/2023Positive News
NextEra Energy, Inc. stock logo
NEE
NextEra Energy
quarterly$0.46752.49%5/26/20235/30/20236/15/2023Dividend Announcement
Nordstrom, Inc. stock logo
JWN
Nordstrom
quarterly$0.194.91%5/26/20235/30/20236/14/2023Dividend Announcement
Northrop Grumman Co. stock logo
NOC
Northrop Grumman
quarterly$1.871.67%5/26/20235/30/20236/14/2023Dividend Increase
Ohio Valley Banc Corp. stock logo
OVBC
Ohio Valley Banc
none$0.155/26/20235/30/20236/10/2023Dividend Announcement
Paycom Software, Inc. stock logo
PAYC
Paycom Software
quarterly$0.37500.55%5/26/20235/30/20236/12/2023Dividend Announcement
Radian Group Inc. stock logo
RDN
Radian Group
quarterly$0.22503.48%5/26/20235/30/20236/14/2023Dividend Announcement
Ready Capital Co. stock logo
RC
Ready Capital
quarterly$0.145.44%5/26/20235/30/20236/15/2023Dividend Cut
Ritchie Bros. Auctioneers Incorporated stock logo
RBA
Ritchie Bros. Auctioneers
quarterly$0.271.98%5/26/20235/30/20236/20/2023Gap Up
Sinclair Broadcast Group, Inc. stock logo
SBGI
Sinclair Broadcast Group
quarterly$0.255.89%5/26/20235/30/20236/15/2023
Skyworks Solutions, Inc. stock logo
SWKS
Skyworks Solutions
quarterly$0.622.36%5/26/20235/30/20236/20/2023
TFS Financial Co. stock logo
TFSL
TFS Financial
quarterly$0.28259.90%5/26/20235/30/20236/13/2023Dividend Announcement
News Coverage
Tractor Supply stock logo
TSCO
Tractor Supply
quarterly$1.031.70%5/26/20235/30/20236/13/2023
Westinghouse Air Brake Technologies Co. stock logo
WAB
Westinghouse Air Brake Technologies
quarterly$0.170.70%5/26/20235/30/20236/9/2023Dividend Announcement
Xylem Inc. stock logo
XYL
Xylem
quarterly$0.331.30%5/26/20235/30/20236/28/2023Dividend Announcement
Yum China Holdings, Inc. stock logo
YUMC
Yum China
quarterly$0.130.83%5/26/20235/30/20236/20/2023Analyst Revision
 

Ex-Dividend Date

Ex-dividend means “without the dividend”. When a stock sells ex-dividend it is trading without the dividend added to its stock price. A simple example can help explain this.

Company A’s stock is selling for $150 per share, and it announces a $5.00 annual dividend that will be paid in quarterly installments. On the ex-dividend date (see below), at the opening of trading, Company A’s stock will be marked down by $1.25 ($5/4 = $1.25).

Any investor buying stock will be purchasing it at the discounted price, $148.75. However, they will not be able to receive the upcoming dividend if they were not a shareholder of record before the ex-dividend date.

In this article, we’ll help investors understand what they need to know about the ex-dividend date including a strategy that traders can use around the ex-dividend date (or ex date).

For many investors, collecting a dividend is something they don’t even think about. They may have owned the stock for years and are accustomed to collecting or reinvesting their dividends on a regular schedule. These buy-and-hold investors don’t concern themselves with missing an ex-dividend date.

However, for an investor looking to take a new position in a dividend stock, it’s important to know when the stock is selling ex-dividend. That’s because an investor has to be a shareholder of record BEFORE the ex-dividend date if they want to receive the dividend.

There are four key dates that are part of the dividend issuing process.

Record Date – This is the date set by a company’s board of directors once they decide to issue a dividend. An investor must be on the company’s record as a shareholder on this date to receive the dividend. Currently, the record date is set for one day after the ex-dividend date.

Ex-Dividend Date – once the record date is set the stock market will automatically set the ex-dividend date. As mentioned above, this date will typically be two days before the record date.

Declaration Date – this is simply the day the company announces to the public that they are issuing a dividend. In this announcement, the company will list how much the dividend will be, the ex-dividend date and the payment date. Chronologically, this would occur after the record and ex-dividend date have been set.

Payment Date – the payment date is the day when a company distributes dividend payments to shareholders. This is typically at least two weeks after the record date.

Let’s look at an example of how these dates work together.

On August 16, 2018 Tiffany & Co. declared a dividend of $0.55/share (the declaration date) to be paid on October 10 (the payment date). The ex-dividend date was set for September 19, 2018 making the record date September 20, 2018.

A dividend payment represents a share of a company’s profits. Investors can choose to accept their cash dividends as a direct payment or they can reinvest the dividends to buy additional shares of the company’s stock. When deciding on dividend stocks to buy, investors need to distinguish between the dividend yield and the dividend payout.

A company’s dividend yield is a measure of how much money per share a company pays out as a dividend. The yield is expressed as a percentage. The formula for dividend yield is:

When it comes to dividend yield higher is not always better. A strong dividend yield in one sector may be weak in another. And since a rising or falling share price affects dividend yield, it is a less reliable measure.

A better metric for many investors is the payout ratio. A dividend payout (or annual dividend per share) is the amount an investor will receive in the form of a dividend on a per share basis. For example, if a company pays out $5 per share on an annual basis, an investor who owns $100 shares of the stock will receive $500 a year in dividend payments.

Although many stock transactions happen instantaneously, most trades take two days to “settle”. This settlement time can cause an investor to not be a shareholder of record on the record date. For this reason, the stock market requires companies to set an ex-dividend date that is typically two business days before the record date.

The advent of zero-commission trading is bringing many retail investors into the market. And many of these investors are taking advantage of the opportunity to buy fractional shares. This allows investors to take a relatively small amount of money and spread it over several stocks. However, instead of buying full shares, they buy fractions of shares.

However, that doesn’t take away the appeal of dividend stocks. Any shareholder of record is entitled to a dividend that is proportionate to the amount of their investment. Even if they only own 0.25 shares, an investor can receive 25% of the company’s dividend per share.

Companies are proud of their ability to issue a dividend and will typically have this information available to shareholders and prospective investors on their website, probably in an area called “Investor Relations” or something similar. In addition, many financial websites will have ex-dividend calendars that will provide a list of all announced ex-dividend dates.

This is an easy way for investors to see not only the ex-dividend date of a company they may be interested in buying, but a comparison of dividend amounts for similar companies. Once the ex-dividend date arrives you’ll see an X next to the stock symbol to indicate that it is trading ex-dividend.

For most investors, dividend investing is a straight-forward investment strategy. However,
when turned into an aggressive trading strategy it can carry high risks and possible tax consequences. Dividend capture seeks to trade on the fact that stocks don’t always move precisely according to a formula or by conventional logic. Here’s how it works:

On the ex-dividend day, the stock will start trading at the discounted price, but it will typically not maintain that adjusted price, meaning it could go higher or lower. And although investors usually factor in the anticipated decline in price as the ex-dividend day draws closer, many stocks have been known to go through a period of heightened interest prior to the ex-dividend date as more investors seek to get the dividend.

So for example, let’s say a stock was selling for $100 and announced a $0.50 dividend. On the ex-dividend date, the stock’s price would drop by $0.50, but if a significant amount of investors bought shares of the stock, the stock’s price could have been driven up to $102. So even with the discount factored out of the stock price, it is still trading above where it was on the declaration date.

These market anomalies can make it difficult to make dividend capture a profitable strategy, but here’s where it can sometimes, and the emphasis is on the word sometimes, work. There are times when a stock, for any number of reasons, may not be marked down to the expected amount dictated on the declaration date. In our example above let’s say the stock that was expected to drop by $0.50 only dropped by $0.25. An investor could go through the following process:

  1. Buy the stock prior to the ex-dividend date for $100
  2. Sell it on the ex-dividend date for $99.75
  3. They collect the dividend of $0.50 on the payment date
  4. They realize a total return of $0.25/share. They lost $0.25 on the stock, but gained $0.50 on the dividend distribution.

In theory, this is true, but realistically it would require a much higher spread between the expected ex-dividend price and the actual ex-dividend price to make this a profitable trade. This is for two reasons. The first one is taxes. Qualified dividends receive preferential tax treatment. However that’s only if the stock is owned for more than 61 days. In our example, the stock was not so it gets no such treatment. The second issue has to do with trading costs. In many cases, it’s going to cost an investor more than $0.25/share to execute a trade and they’re paying that cost on both ends, you can see why what looks on paper to be a profitable trend could easily be a losing trade.

A better approach for investors looking to profit from dividend capture would be to use either fundamental analysis or technical analysis to predict which stocks may be more likely to trade higher prior to their ex-dividend date. By purchasing the stock well in advance of the ex-dividend date (preferably more than 61 days for tax purposes); investors could turn a profitable trade by selling the stock on or before the ex-dividend date.

Despite the presumption that dividend investing is only for conservative investors, savvy investors frequently buy dividend stocks because the benefits that come from receiving regular dividends help them accomplish other investment objectives. Among these is the benefit that comes from reinvesting dividends to buy more shares which allows compounding to take place. However, if the time comes for an investor to rebalance their portfolio, they may find that they have to swap out one dividend stock for another.

When this happens, they’ll need to know the ex-dividend date for the stock they wish to purchase. By purchasing the stock before the ex-dividend date, they will be considered a shareholder of record by the record date and receive the scheduled dividend. The ex-dividend date is a firm date and once the date arrives, any new investors that buy the stock will not receive the upcoming dividend. Plus, once the ex-dividend date arrives, the stock price of the company will be adjusted downward typically for the same amount as the dividend, although there are times when it is different.

Investors that are wondering when a company is issuing a dividend can usually find this information on a company’s website or other financial site. Dividend-issuing companies are usually very proud of this fact and make the information readily available to investors.

More Dividend Resources from MarketBeat

My Account -