Ex-Dividend Date Insight: McGrath RentCorp

On February 23, 2021, McGrath RentCorp MGRC announced shareholders can expect to receive a dividend payable on April 30, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. McGrath RentCorp, whose current dividend payout is $0.43, has an ex-dividend date set at April 14, 2021. The payout equates to a dividend yield of 2.16% 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 McGrath RentCorp's Dividend Payouts And Yields

Over the past year, McGrath RentCorp has experienced an overall upward trend regarding its dividend payouts and yields. Last year on April 14, 2020 the company's payout was $0.42, which has since grown by $0.02. Similarly, McGrath RentCorp's dividend yield in last year was 2.14%, which has since grown by 0.02%.
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.

Click here to find details on McGrath RentCorp's previous dividends.