Benzinga | Jul 14, 2021 10:26AM EDT

Ex-Dividend Date Insight: WD-40

WD-40 (NASDAQ:WDFC) declared a dividend payable on July 30, 2021 to its shareholders as of June 15, 2021. It was also announced that shareholders of WD-40's stock as of July 16, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. WD-40 has an ex-dividend date planned for July 15, 2021. The company's current dividend payout sits at $0.72. That equates to a dividend yield of 1.14% at current price levels.

What Are Ex-Dividend Dates?

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. Most ex-dividend dates operate on a quarterly basis.

WD-40's Dividend Payouts And Yields

Over the past year, WD-40 has seen its dividend payouts climb upward and its yields trend downward. Last year on July 16, 2020 the company's payout sat at $0.67, which has since increased by $0.05. WD-40's dividend yield last year was 1.42%, which has since decreased by 0.28%.

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 WD-40's previous dividends.