Calamos Convertible (NASDAQ:CHY) announced on July 1, 2021 that stockholders will receive a dividend on July 20, 2021. The stock will thereafter go ex-dividend one or more business day(s) prior to the record date. Calamos Convertible’s ex-dividend date is slated for July 12, 2021. At current prices, the company’s current dividend distribution is $0.1, resulting in a dividend yield of 7.35 percent.
An ex-dividend date is the date on which a company’s stock stops trading with its existing dividend payout in anticipation of a new one being announced. The ex-dividend date of a company is usually one business day before the record date. When buying stocks, investors should keep this in mind because buying them on or after ex-dividend dates does not entitle them to the announced dividend. Dividends declared after the ex-dividend date are paid to shareholders who owned the shares before the ex-dividend date. The majority of ex-dividend dates are quarterly.
Calamos Convertible has had no change in dividend payouts and a declining trend in yields during the last year. The company’s payout was $0.1 last year on March 10, 2021, and it has since recovered to its current value. Calamos Convertible’s dividend yield was 7.89 percent last year, but it has since fallen by 0.54 percent. Dividend yields are used in a variety of ways by businesses. Some businesses may choose to reinvest their earnings instead of paying out dividends. To manage how their shares move across the stock market, other corporations may choose to boost or decrease their yield amounts.
Click here to learn more about the Calamos Convertible.
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