Analyzing PennyMac Mortgage's Ex-Dividend Date

PennyMac Mortgage PMT declared a dividend payable on April 29, 2021 to its shareholders as of March 24, 2021. It was also announced that shareholders of PennyMac Mortgage's stock as of April 15, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. PennyMac Mortgage has an ex-dividend date set for for April 14, 2021. The company's current dividend payout is $0.47, which equates to a dividend yield of 9.8% at current price levels.

What Is An Ex-Dividend Date?

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.

PennyMac Mortgage's Dividend Payouts And Yields

Over the past year, PennyMac Mortgage has seen its dividend payouts climb upward and its yields trend downward. Last year on April 14, 2020 the company's payout sat at $0.25, which has since increased by $0.22. PennyMac Mortgage's dividend yield last year was 17.48%, which has since decreased by 7.68%.
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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