Navient (NASDAQ:NAVI) declared a dividend payable on September 17, 2021 to its shareholders as of August 11, 2021. It was also announced that shareholders of Navient's stock as of September 3, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Navient, which has a current dividend per share of $0.16, has an ex-dividend date scheduled for September 2, 2021. That equates to a dividend yield of 2.95% at current price levels.
What Is An Ex-Dividend Date?
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.
Understanding Navient's Dividend Performance
Over the past year, Navient has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on September 3, 2020 the company's payout was $0.16, which has returned to its value today. Navient's dividend yield last year was 7.57%, which has since decreased by 4.62%.
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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