Benzinga | Mar 10, 2021 10:10AM EST

Understanding Reliance Steel & Aluminum's Ex-Dividend Date

On February 18, 2021, Reliance Steel & Aluminum (NYSE:RS) announced shareholders can expect to receive a dividend payable on March 26, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Reliance Steel & Aluminum is set for March 11, 2021. The company's current dividend payout sits at $0.69, equating to a dividend yield of 2.19% at current price levels.

Understanding Ex-Dividend Dates'

Ex-dividend dates are when company shares stop trading with their current dividend payouts in preparation for those companies to announce new ones. 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 Reliance Steel & Aluminum's Dividend Payouts And Yields

Over the past year, Reliance Steel & Aluminum has experienced an overall upward trend regarding its dividend payouts and yields. Last year on March 12, 2020 the company's payout was $0.62, which has since grown by $0.06. Similarly, Reliance Steel & Aluminum's dividend yield in last year was 2.13%, which has since grown by 0.06%.

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 Reliance Steel & Aluminum's previous dividends.