Understanding First BanCorp's Ex-Dividend Date

On April 28, 2021, First BanCorp FBP declared a dividend payable on June 11, 2021 to its shareholders. First BanCorp also announced that shareholders on the company's books on or before May 26, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. First BanCorp has an ex-dividend date set for for May 25, 2021. The company's current dividend payout is $0.07, which equates to a dividend yield of 2.26% at current price levels.

The Significance Of 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. Most ex-dividend dates operate on a quarterly basis.

Understanding First BanCorp's Dividend Performance

Over the past year, First BanCorp has seen its dividend payouts climb upward and its yields trend downward. Last year on May 27, 2020 the company's payout sat at $0.05, which has since increased by $0.02. First BanCorp's dividend yield last year was 3.8%, which has since decreased by 1.54%.
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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