Benzinga | Jan 19, 2021 10:35AM EST

Ex-Dividend Date Insight: Movado Group

Movado Group (NYSE:MOV) declared a dividend payable on February 5, 2021 to its shareholders as of January 11, 2021. It was also announced that shareholders of Movado Group's stock as of January 21, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. The ex-dividend date for Movado Group is set for January 20, 2021. The company's current dividend payout sits at $0.1, equating to a dividend yield of 2.21% at current price levels.

Understanding 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.

Movado Group's Dividend Performance

Over the past year, Movado Group has seen its dividend payouts and yields descend downward overall. Last year on April 9, 2019 the company's payout sat at $0.2, which has since decreased by $0.1. Movado Group's dividend yield last year was 2.45%, which has since declined by 0.24%.

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 Movado Group's previous dividends.