On October 22, 2020, Oconee Federal Finl (NASDAQ: OFED) declared a dividend payable on November 19, 2020 to its shareholders. Oconee Federal Finl also announced that shareholders on the company's books on or before November 5, 2020 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Oconee Federal Finl has an ex-dividend date set for for November 4, 2020. The company's current dividend payout is $0.1, which equates to a dividend yield of 1.5% at current price levels.

The Significance Of Ex-Dividend Dates

Ex-dividend dates signal when company shares cease to trade with their current dividend payouts. There is a small intermission period before companies announce new dividends. 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 Oconee Federal Finl's Dividend Payouts And Yields

Over the past year, Oconee Federal Finl has experienced no change regarding its dividend payouts and a downward trend regarding its yields. Last year on November 6, 2019 the company's payout was $0.1, which has returned to its value today. Oconee Federal Finl's dividend yield last year was 1.75%, which has since decreased by 0.25%.
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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