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On April 12, 2021, Nuveen New York Municipal (NYSE:NNY) announced shareholders can expect to receive a dividend payable on May 3, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Nuveen New York Municipal will be on April 21, 2021. The company's current dividend payout is at $0.0. That equates to a dividend yield of 0.59% at current price levels.
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. Most ex-dividend dates operate on a quarterly basis.
Over the past year, Nuveen New York Municipal has experienced an overall downward trend regarding its dividend payouts and yields. Last year on January 14, 2021 the company's payout was $0.03, which has since decreased by $0.02. Similarly, Nuveen New York Municipal's dividend yield last year was 3.07%, which has since declined by 2.48%.
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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Posted In: NNY
