Benzinga | Mar 15, 2021 11:36AM EDT

Ex-Dividend Date Insight: Hillenbrand

Hillenbrand (NYSE:HI) declared a dividend payable on March 31, 2021 to its shareholders as of February 11, 2021. It was also announced that shareholders of Hillenbrand's stock as of March 17, 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 Hillenbrand is set for March 16, 2021. The company's current dividend payout sits at $0.21, equating to a dividend yield of 1.91% 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. Most ex-dividend dates operate on a quarterly basis.

Understanding Hillenbrand's Dividend Performance

Over the past year, Hillenbrand has seen its dividend payouts remain the same and its yields trend downward. Last year on March 16, 2020 the company's payout sat at $0.21, which has returned to its value today. Hillenbrand's dividend yield last year was 2.91%, which has since decreased by 1.0%.

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 Hillenbrand's previous dividends.