Analyzing Provident Financial Hldgs's Ex-Dividend Date

On April 27, 2021, Provident Financial Hldgs PROV declared a dividend payable on June 8, 2021 to its shareholders. Provident Financial Hldgs also announced that shareholders on the company's books on or before May 18, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Provident Financial Hldgs has an ex-dividend date set for for May 17, 2021. The company's current dividend payout is $0.14, which equates to a dividend yield of 3.4% at current price levels.

What Is An Ex-Dividend Date?

Ex-dividend dates are when company shares stop trading with their current dividend payouts in preparation for those companies to announce new ones. 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 Provident Financial Hldgs's Dividend Payouts And Yields

Over the past year, Provident Financial Hldgs has seen its dividend payouts remain the same and its yields trend downward. Last year on May 20, 2020 the company's payout sat at $0.14, which has returned to its value today. Provident Financial Hldgs's dividend yield last year was 4.05%, which has since decreased by 0.65%.
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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