On July 29, 2021, SLM (NASDAQ:SLM) announced shareholders can expect to receive a dividend payable on September 15, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for SLM is set for September 2, 2021. The company's current dividend payout sits at $0.03, equating to a dividend yield of 0.64% at current price levels.
Understanding Ex-Dividend Dates'
An ex-dividend date signals when a company's shares cease to trade with its current dividend payout. There is a small intermission period before the company announces a new dividend. 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.
SLM's Dividend History
Over the past year, SLM has seen its dividend payouts remain the same and its yields trend downward. Last year on September 3, 2020 the company's payout sat at $0.03, which has returned to its value today. SLM's dividend yield last year was 1.53%, which has since decreased by 0.89%.
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 SLM's previous dividends.
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