Griffon (NYSE:GFF) declared a dividend payable on September 16, 2021 to its shareholders as of July 29, 2021. It was also announced that shareholders of Griffon’s stock as of August 19, 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 Griffon will be on August 18, 2021. The company’s current dividend payout is at $0.08. That equates to a dividend yield of 1.31% at current price levels.
What Are Ex-Dividend Dates?
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.
Griffon’s Dividend History
Over the past year, Griffon has experienced an overall upward trend regarding its dividend payouts and a downward trend regarding its yields. Last year on August 19, 2020 the company’s payout was $0.07, which has since grown by $0.01. Griffon’s dividend yield last year was 1.43%, which has since decreased by 0.12%.
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 Griffon’s previous dividends.
