Benzinga | Mar 15, 2021 11:45AM EDT

Understanding Silgan Hldgs's Ex-Dividend Date

On February 23, 2021, Silgan Hldgs (NASDAQ:SLGN) declared a dividend payable on March 31, 2021 to its shareholders. Silgan Hldgs also announced that shareholders on the company's books on or before March 17, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Silgan Hldgs has an ex-dividend date planned for March 16, 2021. The company's current dividend payout sits at $0.14. That equates to a dividend yield of 1.47% at current price levels.

What Is An Ex-Dividend Date?

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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Understanding Silgan Hldgs's Dividend Payouts And Yields

Over the past year, Silgan Hldgs has experienced an overall upward trend regarding its dividend payouts and a downward trend regarding its yields. Last year on March 16, 2020 the company's payout was $0.12, which has since grown by $0.02. Silgan Hldgs's dividend yield last year was 1.54%, which has since decreased by 0.07%.

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 Silgan Hldgs's previous dividends.