On June 25, 2021, First of Long Island (NASDAQ:FLIC) declared a dividend payable on July 16, 2021 to its shareholders. First of Long Island also announced that shareholders on the company's books on or before July 8, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. First of Long Island, which has a current dividend per share of $0.19, has an ex-dividend date scheduled for July 7, 2021. That equates to a dividend yield of 3.64% at current price levels.

Ex-dividend dates signal when company shares cease to trade with their current dividend payouts. There is a small intermission period before companies announce new dividends. 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.

Over the past year, First of Long Island has seen its dividend payouts climb upward and its yields trend downward. Last year on July 8, 2020 the company's payout sat at $0.18, which has since increased by $0.01. First of Long Island's dividend yield last year was 4.75%, which has since decreased by 1.11%.
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.