Benzinga | Jul 1, 2021 10:12AM EDT

Ex-Dividend Date Insight: Steelcase

On June 23, 2021, Steelcase (NYSE:SCS) announced shareholders can expect to receive a dividend payable on July 20, 2021. The stock will then go ex-dividend 2 business day(s) before the record date. The ex-dividend date for Steelcase is set for July 2, 2021. The company's current dividend payout sits at $0.14, equating to a dividend yield of 4.01% 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 Steelcase's Dividend Performance

Over the past year, Steelcase has experienced an overall upward trend regarding its dividend payouts and yields. Last year on July 7, 2020 the company's payout was $0.1, which has since grown by $0.04. Similarly, Steelcase's dividend yield in last year was 3.27%, which has since grown by 0.74%.

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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