Benzinga | Dec 22, 2020 10:21AM EST

Understanding Aecon Group's Ex-Dividend Date

On October 29, 2020, Aecon Group (OTC:AEGXF) announced shareholders can expect to receive a dividend payable on January 4, 2021. The stock will then go ex-dividend 2 business day(s) before the record date. The ex-dividend date for Aecon Group will be on December 23, 2020. The company's current dividend payout is at $0.16. That equates to a dividend yield of 4.73% at current price levels.

The Significance Of An Ex-Dividend Date

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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Aecon Group's Dividend Performance

Over the past year, Aecon Group has seen its dividend payouts and yields climb upward overall. Last year (December 23, 2019), the company's payout sat at $0.14, which has since increased by $0.02. Aecon Group's dividend yield last year was 4.24%, which has since grown by 0.49%.

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 Aecon Group's previous dividends.