Benzinga | May 26, 2021 10:46AM EDT

Ex-Dividend Date Insight: Evercore

On April 27, 2021, Evercore (NYSE:EVR) declared a dividend payable on June 11, 2021 to its shareholders. Evercore also announced that shareholders on the company's books on or before May 28, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Evercore is set for May 27, 2021. The company's current dividend payout sits at $0.68, equating to a dividend yield of 1.94% at current price levels.

What Is An Ex-Dividend Date?

Ex-dividend dates signal when company shares cease to trade with their current dividend payouts. There is a small intermission period before companies announce new dividends. 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.

Understanding Evercore's Dividend History

Over the past year, Evercore has seen its dividend payouts climb upward and its yields trend downward. Last year on May 28, 2020 the company's payout sat at $0.58, which has since increased by $0.1. Evercore's dividend yield last year was 4.36%, which has since decreased by 2.42%.

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 Evercore's previous dividends.