Benzinga | Mar 9, 2021 10:22AM EST

Ex-Dividend Date Insight: Calamos Convertible

On March 1, 2021, Calamos Convertible (NASDAQ:CHY) announced shareholders can expect to receive a dividend payable on March 19, 2021. The stock will then go ex-dividend 1 business day(s) before the record date. The ex-dividend date for Calamos Convertible will be on March 10, 2021. The company's current dividend payout is at $0.1. That equates to a dividend yield of 7.89% at current price levels.

Understanding Ex-Dividend Dates'

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. Typically, companies will announce and implement new dividend yields on a quarterly basis.

Calamos Convertible's Dividend History

Over the past year, Calamos Convertible has seen its dividend payouts climb upward and its yields trend downward. Last year on November 12, 2020 the company's payout sat at $0.09, which has since increased by $0.01. Calamos Convertible's dividend yield last year was 8.87%, which has since decreased by 0.98%.

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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