Analyzing Ovintiv's Ex-Dividend Date

Ovintiv OVV declared a dividend payable on June 30, 2021 to its shareholders as of April 28, 2021. It was also announced that shareholders of Ovintiv's stock as of June 15, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. The ex-dividend date for Ovintiv is set for June 14, 2021. The company's current dividend payout sits at $0.09, equating to a dividend yield of 1.63% at current price levels.

What Is An Ex-Dividend Date?

An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. 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.

Ovintiv's Dividend Payouts And Yields

Over the past year, Ovintiv has seen its dividend payouts remain the same and its yields trend downward. Last year on June 12, 2020 the company's payout sat at $0.09, which has returned to its value today. Ovintiv's dividend yield last year was 7.29%, which has since decreased by 5.66%.
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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