Benzinga | Jan 20, 2021 10:23AM EST

Analyzing Eaton Vance's Ex-Dividend Date

On January 4, 2021, Eaton Vance (NYSE:EOI) announced shareholders can expect to receive a dividend payable on January 29, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. Eaton Vance, whose current dividend payout is $0.09, has an ex-dividend date set at January 21, 2021. The payout equates to a dividend yield of 6.66% at current price levels.

The Significance Of An Ex-Dividend Date

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.

Eaton Vance's Dividend Payouts And Yields

Over the past year, Eaton Vance has seen its dividend payouts remain the same and its yields trend downward. Last year on September 22, 2020 the company's payout sat at $0.09, which has returned to its value today. Eaton Vance's dividend yield last year was 6.95%, which has since decreased by 0.29%.

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 Eaton Vance's previous dividends.