Benzinga | Oct 26, 2020 01:05PM EDT

Analyzing Bank of New York Mellon's Ex-Dividend Date

On October 27, 2020, Bank of New York Mellon (NYSE:BK) announced shareholders can expect to receive a dividend payable on November 10, 2020. The stock will then go ex-dividend 1 business day(s) before the record date. Bank of New York Mellon has an ex-dividend date planned for October 27, 2020. The company's current dividend payout sits at $0.31. That equates to a dividend yield of 3.33% at current price levels.

The Significance Of An Ex-Dividend Date

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.

Understanding Bank of New York Mellon's Dividend Performance

Over the past year, Bank of New York Mellon has experienced no change regarding its dividend payouts and an overall upward trend regarding its yields. Last year on October 25, 2019 the company's payout was $0.31, which has returned to its value today. Bank of New York Mellon's dividend yield last year was 2.8%, which has since grown by 0.53%.

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.