On June 7, 2021, Tootsie Roll Industries (NYSE:TR) declared a dividend payable on July 6, 2021 to its shareholders. Tootsie Roll Industries also announced that shareholders on the company’s books on or before June 18, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Tootsie Roll Industries is set for June 17, 2021. The company’s current dividend payout sits at $0.09, equating to a dividend yield of 1.08% at current price levels.
The Significance Of An Ex-Dividend Date
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. Most ex-dividend dates operate on a quarterly basis.
Understanding Tootsie Roll Industries’s Dividend History
Over the past year, Tootsie Roll Industries has seen its dividend payouts remain the same and its yields climb upward overall. Last year on March 2, 2020 the company’s payout sat at $0.09, which has returned to its value today. Tootsie Roll Industries’s dividend yield last year was 1.06%, which has since grown by 0.02%.
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 Tootsie Roll Industries’s previous dividends.
View more information: https://www.benzinga.com/news/dividends/21/06/21588864/analyzing-tootsie-roll-industriess-ex-dividend-date