Benzinga | Jun 1, 2021 10:18AM EDT

Understanding Peoples Bancorp of NC's Ex-Dividend Date

Peoples Bancorp of NC (NASDAQ:PEBK) declared a dividend payable on June 15, 2021 to its shareholders as of May 21, 2021. It was also announced that shareholders of Peoples Bancorp of NC's stock as of June 3, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. The ex-dividend date for Peoples Bancorp of NC will be on June 2, 2021. The company's current dividend payout is at $0.16. That equates to a dividend yield of 2.57% at current price levels.

The Significance Of Ex-Dividend Dates

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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Understanding Peoples Bancorp of NC's Dividend Payouts And Yields

Over the past year, Peoples Bancorp of NC has seen its dividend payouts climb upward and its yields trend downward. Last year on June 2, 2020 the company's payout sat at $0.15, which has since increased by $0.01. Peoples Bancorp of NC's dividend yield last year was 3.75%, which has since decreased by 1.18%.

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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