Benzinga | Feb 3, 2021 10:20AM EST

Understanding Pinnacle Finl Partners's Ex-Dividend Date

On January 19, 2021, Pinnacle Finl Partners (NASDAQ:PNFP) declared a dividend payable on February 26, 2021 to its shareholders. Pinnacle Finl Partners also announced that shareholders on the company's books on or before February 5, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Pinnacle Finl Partners has an ex-dividend date set for for February 4, 2021. The company's current dividend payout is $0.18, which equates to a dividend yield of 1.03% at current price levels.

Understanding Ex-Dividend Dates'

An ex-dividend date is when a company's shares stop trading with its current dividend payout in preparation for the company to announce a new one. 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.

Pinnacle Finl Partners's Dividend Payouts And Yields

Over the past year, Pinnacle Finl Partners has seen its dividend payouts and yields climb upward overall. Last year (February 6, 2020), the company's payout sat at $0.16, which has since increased by $0.02. Pinnacle Finl Partners's dividend yield last year was 1.01%, which has since grown by 0.02%.

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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