Benzinga | Aug 31, 2021 11:38AM EDT

Analyzing Patterson-UTI Energy's Ex-Dividend Date

On July 29, 2021, Patterson-UTI Energy (NASDAQ:PTEN) declared a dividend payable on September 16, 2021 to its shareholders. Patterson-UTI Energy also announced that shareholders on the company's books on or before September 2, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Patterson-UTI Energy, which has a current dividend per share of $0.02, has an ex-dividend date scheduled for September 1, 2021. That equates to a dividend yield of 0.97% at current price levels.

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

Patterson-UTI Energy's Dividend Payouts And Yields

Over the past year, Patterson-UTI Energy has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on September 2, 2020 the company's payout was $0.02, which has returned to its value today. Patterson-UTI Energy's dividend yield last year was 2.18%, which has since decreased by 1.21%.

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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