Understanding BNY Mellon High Yield's Ex-Dividend Date

On May 24, 2021, BNY Mellon High Yield DHF declared a dividend payable on June 22, 2021 to its shareholders. BNY Mellon High Yield also announced that shareholders on the company's books on or before June 8, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. BNY Mellon High Yield, which has a current dividend per share of $0.02, has an ex-dividend date scheduled for June 7, 2021. That equates to a dividend yield of 8.16% at current price levels.

The Significance Of An Ex-Dividend Date

An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. 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 BNY Mellon High Yield's Dividend Payouts And Yields

Over the past year, BNY Mellon High Yield has seen its dividend payouts remain the same and its yields trend downward. Last year on February 4, 2021 the company's payout sat at $0.02, which has returned to its value today. BNY Mellon High Yield's dividend yield last year was 8.63%, which has since decreased by 0.47%.
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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