Understanding Canadian Western Bank's Ex-Dividend Date

On August 27, 2021, Canadian Western Bank CBWBF declared a dividend payable on September 23, 2021 to its shareholders. Canadian Western Bank also announced that shareholders on the company's books on or before September 9, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Canadian Western Bank, which has a current dividend per share of $0.29, has an ex-dividend date scheduled for September 8, 2021. That equates to a dividend yield of 4.17% 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.

Canadian Western Bank's Dividend Performance

Over the past year, Canadian Western Bank has seen its dividend payouts remain the same and its yields trend downward. Last year on September 9, 2020 the company's payout sat at $0.29, which has returned to its value today. Canadian Western Bank's dividend yield last year was 6.0%, which has since decreased by 1.83%.
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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