Understanding Tortoise Energy Infr's Ex-Dividend Date

Author: Benzinga Insights | August 20, 2021 11:03am

Tortoise Energy Infr (NYSE:TYG) declared a dividend payable on August 31, 2021 to its shareholders as of August 9, 2021. It was also announced that shareholders of Tortoise Energy Infr's stock as of August 24, 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 Tortoise Energy Infr will be on August 23, 2021. The company's current dividend payout is at $0.36. That equates to a dividend yield of 5.51% 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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Tortoise Energy Infr's Dividend History

Over the past year, Tortoise Energy Infr has seen its dividend payouts climb upward and its yields trend downward. Last year on July 23, 2020 the company's payout sat at $0.3, which has since increased by $0.07. Tortoise Energy Infr's dividend yield last year was 7.77%, which has since decreased by 2.26%.
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: TYG