Understanding Tri-Continental's Ex-Dividend Date

On May 21, 2021, Tri-Continental TY declared a dividend payable on June 24, 2021 to its shareholders. Tri-Continental also announced that shareholders on the company's books on or before June 16, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Tri-Continental has an ex-dividend date set for for June 15, 2021. The company's current dividend payout is $0.24, which equates to a dividend yield of 2.81% at current price levels.

Understanding 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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Tri-Continental's Dividend Payouts And Yields

Over the past year, Tri-Continental has experienced an overall downward trend regarding its dividend payouts and yields. Last year on June 16, 2020 the company's payout was $0.28, which has since decreased by $0.04. Similarly, Tri-Continental's dividend yield last year was 4.73%, which has since declined by 1.92%.
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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