Benzinga | Jun 1, 2021 10:18AM EDT

Analyzing Elmira Savings Bank's Ex-Dividend Date

On May 24, 2021, Elmira Savings Bank (NASDAQ:ESBK) declared a dividend payable on June 11, 2021 to its shareholders. Elmira Savings Bank also announced that shareholders on the company's books on or before June 3, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Elmira Savings Bank has an ex-dividend date planned for June 2, 2021. The company's current dividend payout sits at $0.15. That equates to a dividend yield of 4.34% 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.

Elmira Savings Bank's Dividend Performance

Over the past year, Elmira Savings Bank has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on June 4, 2020 the company's payout was $0.15, which has returned to its value today. Elmira Savings Bank's dividend yield last year was 5.55%, which has since decreased by 1.21%.

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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