Benzinga | Dec 9, 2020 10:25AM EST

Ex-Dividend Date Insight: Tegna

On October 28, 2020, Tegna (NYSE:TGNA) announced shareholders can expect to receive a dividend payable on January 4, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. Tegna has an ex-dividend date set for for December 10, 2020. The company's current dividend payout is $0.07, which equates to a dividend yield of 2.25% at current price levels.

What Is An Ex-Dividend Date?

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.

Tegna's Dividend Payouts And Yields

Over the past year, Tegna has experienced no change regarding its dividend payouts and an overall upward trend regarding its yields. Last year on December 5, 2019 the company's payout was $0.07, which has returned to its value today. Tegna's dividend yield last year was 1.76%, which has since grown by 0.49%.

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.

Click here to find details on Tegna's previous dividends.