Published on 26 May 2024 on Simply Wall St. via Yahoo Finance

Income Investors Should Know That Great-West Lifeco Inc. (TSE:GWO) Goes Ex-Dividend Soon

Great-West Lifeco Inc. (TSE:GWO) stock is about to trade ex-dividend in four days. The ex-dividend date is one business day before the record date, which is the cut-off date for shareholders to be present on the company's books to be eligible for a dividend payment. The ex-dividend date is important because any transaction on a stock needs to have been settled before the record date in order to be eligible for a dividend. Therefore, if you purchase Great-West Lifeco's shares on or after the 31st of May, you won't be eligible to receive the dividend, when it is paid on the 28th of June.

The company's next dividend payment will be CA$0.555 per share, on the back of last year when the company paid a total of CA$2.22 to shareholders. Based on the last year's worth of payments, Great-West Lifeco stock has a trailing yield of around 5.2% on the current share price of CA$42.67. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. That's why we should always check whether the dividend payments appear sustainable, and if the company is growing.