Ex-Dividend Date Insight: Tortoise Energy

On August 9, 2021, Tortoise Energy NDP announced shareholders can expect to receive a dividend payable on August 31, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Tortoise Energy is set for August 23, 2021. The company's current dividend payout sits at $0.31, equating to a dividend yield of 6.2% 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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Tortoise Energy's Dividend Payouts And Yields

Over the past year, Tortoise Energy has experienced an overall downward trend regarding its dividend payouts and yields. Last year on May 23, 2019 the company's payout was $0.44, which has since decreased by $0.13. Similarly, Tortoise Energy's dividend yield last year was 21.14%, which has since declined by 14.94%.
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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