Benzinga | Jul 7, 2021 10:22AM EDT

Analyzing Darden Restaurants's Ex-Dividend Date

Darden Restaurants (NYSE:DRI) declared a dividend payable on August 2, 2021 to its shareholders as of June 24, 2021. It was also announced that shareholders of Darden Restaurants's stock as of July 9, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Darden Restaurants has an ex-dividend date planned for July 8, 2021. The company's current dividend payout sits at $1.1. That equates to a dividend yield of 3.25% at current price levels.

What Are Ex-Dividend Dates?

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.

Understanding Darden Restaurants's Dividend Performance

Over the past year, Darden Restaurants has experienced an overall upward trend regarding its dividend payouts and yields. Last year on January 9, 2020 the company's payout was $0.88, which has since grown by $0.22. Similarly, Darden Restaurants's dividend yield in last year was 3.03%, which has since grown by 0.22%.

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 Darden Restaurants's previous dividends.