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Open Text (NASDAQ: OTEX ) declared a dividend payable on December 22, 2020 to its shareholders as of November 4, 2020. It was also announced that shareholders of Open Texts stock as of December 4, 2020 are entitled to the dividend. The stock is expected to become ex-dividend 1 business day(s) before the record date. Open Text has an ex-dividend date planned for December 3, 2020. The companys current dividend payout sits at $0.2. That equates to a dividend yield of 2.14% at current price levels. The Significance Of An Ex-Dividend Date An ex-dividend date is when a companys shares stop trading with its current dividend payout in preparation for the company to announce a new one. Usually, a companys 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. Understanding Open Texts Dividend Performance Over the past year, Open Text has seen its dividend payouts and yields climb upward overall. Last year (November 27, 2019), the companys payout sat at $0.17, which has since increased by $0.03. Open Texts dividend yield last year was 1.73%, which has since grown by 0.41%. 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. To read more news on Open Text click here . See more from Benzinga Click here for options trades from Benzinga Analyzing Regions Financials Ex-Dividend Date Analyzing Nasdaqs Ex-Dividend Date © 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved. View comments
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