Published on 1 Nov 2023 on Simply Wall St. via Yahoo Finance

Heritage Commerce (NASDAQ:HTBK) Could Be A Buy For Its Upcoming Dividend

Some investors rely on dividends for growing their wealth, and if you're one of those dividend sleuths, you might be intrigued to know that Heritage Commerce Corp (NASDAQ:HTBK) is about to go ex-dividend in just four days. The ex-dividend date occurs one day before the record date which is the day on which shareholders need to be on the company's books in order to receive a dividend. The ex-dividend date is an important date to be aware of as any purchase of the stock made on or after this date might mean a late settlement that doesn't show on the record date. Thus, you can purchase Heritage Commerce's shares before the 6th of November in order to receive the dividend, which the company will pay on the 21st of November.

The company's next dividend payment will be US$0.13 per share, on the back of last year when the company paid a total of US$0.52 to shareholders. Based on the last year's worth of payments, Heritage Commerce stock has a trailing yield of around 6.4% on the current share price of $8.18. If you buy this business for its dividend, you should have an idea of whether Heritage Commerce's dividend is reliable and sustainable. So we need to investigate whether Heritage Commerce can afford its dividend, and if the dividend could grow.

Check out our latest analysis for Heritage Commerce