Analyzing Southside Bancshares's Ex-Dividend Date

On May 6, 2021, Southside Bancshares SBSI declared a dividend payable on June 3, 2021 to its shareholders. Southside Bancshares also announced that shareholders on the company's books on or before May 20, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Southside Bancshares will be on May 19, 2021. The company's current dividend payout is at $0.33. That equates to a dividend yield of 3.19% at current price levels.

The Significance Of Ex-Dividend Dates

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. Most ex-dividend dates operate on a quarterly basis.

Southside Bancshares's Dividend History

Over the past year, Southside Bancshares has seen its dividend payouts climb upward and its yields trend downward. Last year on August 19, 2020 the company's payout sat at $0.31, which has since increased by $0.02. Southside Bancshares's dividend yield last year was 4.4%, which has since decreased by 1.21%.
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.

To read more news on Southside Bancshares click here.