Benzinga | Jul 14, 2021 10:26AM EDT

Ex-Dividend Date Insight: McGrath RentCorp

On June 9, 2021, McGrath RentCorp (NASDAQ:MGRC) declared a dividend payable on July 30, 2021 to its shareholders. McGrath RentCorp also announced that shareholders on the company's books on or before July 16, 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 McGrath RentCorp will be on July 15, 2021. The company's current dividend payout is at $0.43. That equates to a dividend yield of 2.04% 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 McGrath RentCorp's Dividend Performance

Over the past year, McGrath RentCorp has experienced an overall upward trend regarding its dividend payouts and a downward trend regarding its yields. Last year on July 16, 2020 the company's payout was $0.42, which has since grown by $0.02. McGrath RentCorp's dividend yield last year was 2.96%, which has since decreased by 0.92%.

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 McGrath RentCorp's previous dividends.