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On November 5, 2020, Protective Insurance (NASDAQ: PTVCB) announced shareholders can expect to receive a dividend payable on December 1, 2020. The stock will then go ex-dividend 1 business day(s) before the record date. Protective Insurance, whose current dividend payout is $0.1, has an ex-dividend date set at November 16, 2020. The payout equates to a dividend yield of 2.96% at current price levels.
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.
Over the past year, Protective Insurance has seen its dividend payouts remain the same and its yields climb upward overall. Last year on November 18, 2019 the company's payout sat at $0.1, which has returned to its value today. Protective Insurance's dividend yield last year was 2.46%, which has since grown by 0.5%.
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 Protective Insurance's previous dividends.
Posted In: PTVCB
