Ex-Dividend Date Insight: Tortoise Midstream Energy

Tortoise Midstream Energy NTG declared a dividend payable on August 31, 2021 to its shareholders as of August 9, 2021. It was also announced that shareholders of Tortoise Midstream Energy's stock as of August 24, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Tortoise Midstream Energy has an ex-dividend date planned for August 23, 2021. The company's current dividend payout sits at $0.39. That equates to a dividend yield of 5.51% 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 Midstream Energy's Dividend History

Over the past year, Tortoise Midstream Energy has experienced an overall upward trend regarding its dividend payouts and a downward trend regarding its yields. Last year on July 23, 2020 the company's payout was $0.31, which has since grown by $0.08. Tortoise Midstream Energy's dividend yield last year was 7.66%, which has since decreased by 2.15%.
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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