Analyzing Northrim BanCorp's Ex-Dividend Date

On August 27, 2021, Northrim BanCorp NRIM declared a dividend payable on September 17, 2021 to its shareholders. Northrim BanCorp also announced that shareholders on the company's books on or before September 9, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Northrim BanCorp, whose current dividend payout is $0.38, has an ex-dividend date set at September 8, 2021. The payout equates to a dividend yield of 3.74% 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. Most ex-dividend dates operate on a quarterly basis.

Northrim BanCorp's Dividend Performance

Over the past year, Northrim BanCorp has experienced an overall upward trend regarding its dividend payouts and a downward trend regarding its yields. Last year on September 9, 2020 the company's payout was $0.35, which has since grown by $0.03. Northrim BanCorp's dividend yield last year was 5.38%, which has since decreased by 1.64%.
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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