Understanding Pioneer Floating Rate's Ex-Dividend Date

On April 6, 2021, Pioneer Floating Rate PHD declared a dividend payable on April 30, 2021 to its shareholders. Pioneer Floating Rate also announced that shareholders on the company's books on or before April 19, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Pioneer Floating Rate has an ex-dividend date planned for April 16, 2021. The company's current dividend payout sits at $0.06. That equates to a dividend yield of 6.6% at current price levels.

The Significance Of Ex-Dividend Dates

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.

Pioneer Floating Rate's Dividend History

Over the past year, Pioneer Floating Rate has seen its dividend payouts remain the same and its yields trend downward. Last year on December 10, 2020 the company's payout sat at $0.06, which has returned to its value today. Pioneer Floating Rate's dividend yield last year was 6.99%, which has since decreased by 0.39%.
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 Pioneer Floating Rate's previous dividends.