Benzinga | Sep 7, 2021 11:24AM EDT

Understanding Scorpio Tankers's Ex-Dividend Date

Scorpio Tankers (NYSE:STNG) declared a dividend payable on September 29, 2021 to its shareholders as of August 5, 2021. It was also announced that shareholders of Scorpio Tankers's stock as of September 9, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Scorpio Tankers, whose current dividend payout is $0.1, has an ex-dividend date set at September 8, 2021. The payout equates to a dividend yield of 2.6% at current price levels.

The Significance Of An Ex-Dividend Date

An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. 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 Scorpio Tankers's Dividend History

Over the past year, Scorpio Tankers has seen its dividend payouts remain the same and its yields trend downward. Last year on September 8, 2020 the company's payout sat at $0.1, which has returned to its value today. Scorpio Tankers's dividend yield last year was 3.05%, which has since decreased by 0.45%.

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 Scorpio Tankers's previous dividends.

To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.