Benzinga | Jun 23, 2021 10:28AM EDT

Ex-Dividend Date Insight: CyrusOne

On April 28, 2021, CyrusOne (NASDAQ:CONE) declared a dividend payable on July 9, 2021 to its shareholders. CyrusOne also announced that shareholders on the company's books on or before June 25, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. CyrusOne has an ex-dividend date planned for June 24, 2021. The company's current dividend payout sits at $0.51. That equates to a dividend yield of 2.79% at current price levels.

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

CyrusOne's Dividend Payouts And Yields

Over the past year, CyrusOne has experienced an overall upward trend regarding its dividend payouts and yields. Last year on June 25, 2020 the company's payout was $0.5, which has since grown by $0.01. Similarly, CyrusOne's dividend yield in last year was 2.68%, which has since grown by 0.11%.

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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