Benzinga | Feb 17, 2021 10:21AM EST

Ex-Dividend Date Insight: Macerich

On January 28, 2021, Macerich (NYSE:MAC) declared a dividend payable on March 3, 2021 to its shareholders. Macerich also announced that shareholders on the company's books on or before February 19, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Macerich, which has a current dividend per share of $0.15, has an ex-dividend date scheduled for February 18, 2021. That equates to a dividend yield of 2.68% 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.

Macerich's Dividend Payouts And Yields

Over the past year, Macerich has experienced an overall downward trend regarding its dividend payouts and yields. Last year on April 21, 2020 the company's payout was $0.4, which has since decreased by $0.25. Similarly, Macerich's dividend yield last year was 11.91%, which has since declined by 9.23%.

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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