Benzinga | Jan 28, 2021 10:19AM EST

Understanding Vornado Realty's Ex-Dividend Date

On January 20, 2021, Vornado Realty (NYSE:VNO) announced shareholders can expect to receive a dividend payable on February 12, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Vornado Realty is set for January 29, 2021. The company's current dividend payout sits at $0.53, equating to a dividend yield of 5.62% at current price levels.

The Significance Of An Ex-Dividend Date

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. Most ex-dividend dates operate on a quarterly basis.

Understanding Vornado Realty's Dividend Performance

Over the past year, Vornado Realty has seen its dividend payouts descend downward and yields trend upward. Last year on January 24, 2020 the company's payout sat at $0.66, which has since decreased by $0.13. Vornado Realty's dividend yield last year was 3.94%, which has since grown by 1.68%.

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 Vornado Realty's previous dividends.