Benzinga | Mar 19, 2021 10:45AM EDT

Understanding Ituran Location & Control's Ex-Dividend Date

Ituran Location & Control (NASDAQ:ITRN) declared a dividend payable on April 6, 2021 to its shareholders as of March 3, 2021. It was also announced that shareholders of Ituran Location & Control's stock as of March 23, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Ituran Location & Control has an ex-dividend date planned for March 22, 2021. The company's current dividend payout sits at $0.48. That equates to a dividend yield of 8.97% 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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Ituran Location & Control's Dividend Performance

Over the past year, Ituran Location & Control has experienced an overall upward trend regarding its dividend payouts and yields. Last year on June 19, 2019 the company's payout was $0.24, which has since grown by $0.24. Similarly, Ituran Location & Control's dividend yield in last year was 3.0%, which has since grown by 5.97%.

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 Ituran Location & Control's previous dividends.