Benzinga | Dec 18, 2020 10:12AM EST

Analyzing Byline Bancorp's Ex-Dividend Date

On December 10, 2020, Byline Bancorp (NYSE:BY) announced shareholders can expect to receive a dividend payable on January 5, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Byline Bancorp is set for December 21, 2020. The company's current dividend payout sits at $0.03, equating to a dividend yield of 0.76% at current price levels.

What Is An Ex-Dividend Date?

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.

Byline Bancorp's Dividend History

Over the past year, Byline Bancorp has experienced no change regarding its dividend payouts and an overall upward trend regarding its yields. Last year on December 23, 2019 the company's payout was $0.03, which has returned to its value today. Byline Bancorp's dividend yield last year was 0.65%, which has since grown by 0.11%.

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 Byline Bancorp's previous dividends.