Benzinga | Aug 19, 2021 11:13AM EDT

Understanding Monro's Ex-Dividend Date

Monro (NASDAQ:MNRO) declared a dividend payable on September 7, 2021 to its shareholders as of August 18, 2021. It was also announced that shareholders of Monro's stock as of August 23, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Monro has an ex-dividend date set for for August 20, 2021. The company's current dividend payout is $0.26, which equates to a dividend yield of 1.88% 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 Monro's Dividend History

Over the past year, Monro has experienced an overall upward trend regarding its dividend payouts and yields. Last year on August 21, 2020 the company's payout was $0.22, which has since grown by $0.04. Similarly, Monro's dividend yield in last year was 1.72%, which has since grown by 0.16%.

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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