Benzinga | Feb 23, 2021 10:25AM EST

Understanding PBF Logistics's Ex-Dividend Date

PBF Logistics (NYSE:PBFX) declared a dividend payable on March 17, 2021 to its shareholders as of February 11, 2021. It was also announced that shareholders of PBF Logistics's stock as of February 25, 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 PBF Logistics is set for February 24, 2021. The company's current dividend payout sits at $0.3, equating to a dividend yield of 10.92% at current price levels.

The Significance Of An Ex-Dividend Date

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.

Understanding PBF Logistics's Dividend Payouts And Yields

Over the past year, PBF Logistics has seen its dividend payouts descend downward and yields trend upward. Last year on February 24, 2020 the company's payout sat at $0.52, which has since decreased by $0.22. PBF Logistics's dividend yield last year was 10.05%, which has since grown by 0.87%.

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 PBF Logistics's previous dividends.