Benzinga | Apr 29, 2021 10:20AM EDT

Ex-Dividend Date Insight: People's United Finl

People's United Finl (NASDAQ:PBCT) declared a dividend payable on May 15, 2021 to its shareholders as of April 22, 2021. It was also announced that shareholders of People's United Finl's stock as of May 3, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. People's United Finl, which has a current dividend per share of $0.18, has an ex-dividend date scheduled for April 30, 2021. That equates to a dividend yield of 4.1% at current price levels.

The Significance Of 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.

People's United Finl's Dividend History

Over the past year, People's United Finl has seen its dividend payouts remain the same and its yields trend downward. Last year on April 30, 2020 the company's payout sat at $0.18, which has returned to its value today. People's United Finl's dividend yield last year was 6.57%, which has since decreased by 2.47%.

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.

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