Benzinga | Feb 2, 2021 10:15AM EST

Analyzing Franklin Electric's Ex-Dividend Date

On January 25, 2021, Franklin Electric (NASDAQ:FELE) announced shareholders can expect to receive a dividend payable on February 18, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Franklin Electric is set for February 3, 2021. The company's current dividend payout sits at $0.17, equating to a dividend yield of 0.96% at current price levels.

Understanding Ex-Dividend Dates'

An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. 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. Most ex-dividend dates operate on a quarterly basis.

Franklin Electric's Dividend Payouts And Yields

Over the past year, Franklin Electric has experienced an overall upward trend regarding its dividend payouts and a downward trend regarding its yields. Last year on February 5, 2020 the company's payout was $0.15, which has since grown by $0.02. Franklin Electric's dividend yield last year was 1.08%, which has since decreased by 0.12%.

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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