On September 2, 2021, Myers Industries (NYSE:MYE) declared a dividend payable on October 4, 2021 to its shareholders. Myers Industries also announced that shareholders on the company’s books on or before September 13, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Myers Industries, whose current dividend payout is $0.14, has an ex-dividend date set at September 10, 2021. The payout equates to a dividend yield of 2.38% 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.
Myers Industries’s Dividend Performance
Over the past year, Myers Industries has seen its dividend payouts remain the same and its yields trend downward. Last year on September 1, 2020 the company’s payout sat at $0.14, which has returned to its value today. Myers Industries’s dividend yield last year was 3.59%, which has since decreased by 1.21%.
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 Myers Industries’s previous dividends.
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