Benzinga | Jun 9, 2021 10:33AM EDT

Understanding Dick's Sporting Goods's Ex-Dividend Date

On May 21, 2021, Dick's Sporting Goods (NYSE:DKS) announced shareholders can expect to receive a dividend payable on June 25, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. Dick's Sporting Goods, which has a current dividend per share of $0.36, has an ex-dividend date scheduled for June 10, 2021. That equates to a dividend yield of 1.73% 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.

Dick's Sporting Goods's Dividend History

Over the past year, Dick's Sporting Goods has seen its dividend payouts climb upward and its yields trend downward. Last year on June 19, 2020 the company's payout sat at $0.31, which has since increased by $0.05. Dick's Sporting Goods's dividend yield last year was 3.46%, which has since decreased by 1.73%.

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.

To read more news on Dick's Sporting Goods click here.