Benzinga | Jan 7, 2021 10:15AM EST

Analyzing First of Long Island's Ex-Dividend Date

On December 18, 2020, First of Long Island (NASDAQ:FLIC) declared a dividend payable on January 21, 2021 to its shareholders. First of Long Island also announced that shareholders on the company's books on or before January 11, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. First of Long Island, whose current dividend payout is $0.19, has an ex-dividend date set at January 8, 2021. The payout equates to a dividend yield of 4.12% at current price levels.

The Significance Of 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.

First of Long Island's Dividend History

Over the past year, First of Long Island has experienced an overall upward trend regarding its dividend payouts and yields. Last year on January 7, 2020 the company's payout was $0.18, which has since grown by $0.01. Similarly, First of Long Island's dividend yield in last year was 2.86%, which has since grown by 1.26%.

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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