Understanding Wells Fargo Utilities's Ex-Dividend Date

Author: Benzinga Insights | July 09, 2021 10:31am

Wells Fargo Utilities (AMEX:ERH) declared a dividend payable on August 2, 2021 to its shareholders as of June 25, 2021. It was also announced that shareholders of Wells Fargo Utilities's stock as of July 13, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Wells Fargo Utilities, which has a current dividend per share of $0.07, has an ex-dividend date scheduled for July 12, 2021. That equates to a dividend yield of 6.11% at current price levels.

Understanding Ex-Dividend Dates'

An ex-dividend date is when a company's shares stop trading with its current dividend payout in preparation for the company to announce a new one. 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.

Wells Fargo Utilities's Dividend Payouts And Yields

Over the past year, Wells Fargo Utilities has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on March 11, 2021 the company's payout was $0.07, which has returned to its value today. Wells Fargo Utilities's dividend yield last year was 6.85%, which has since decreased by 0.74%.
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: ERH