Benzinga | Aug 16, 2021 10:38AM EDT

Understanding ICL Group's Ex-Dividend Date

ICL Group (NYSE:ICL) declared a dividend payable on September 1, 2021 to its shareholders as of July 28, 2021. It was also announced that shareholders of ICL Group's stock as of August 18, 2021 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. ICL Group, which has a current dividend per share of $0.05, has an ex-dividend date scheduled for August 17, 2021. That equates to a dividend yield of 2.98% at current price levels.

The Significance Of An Ex-Dividend Date

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.

ICL Group's Dividend History

Over the past year, ICL Group has experienced anoverall upward trend regarding its dividend payouts and a downward trend regarding its yields. Last year on September 1, 2020 the company's payout was $0.03, which has since grown by $0.02. ICL Group's dividend yield last year was 3.52%, which has since decreased by 0.54%.

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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