Published on 10 Mar 2024 on Simply Wall St. via Yahoo Finance
Stellar Bancorp, Inc. (NYSE:STEL) Passed Our Checks, And It's About To Pay A US$0.13 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 Stellar Bancorp, Inc. (NYSE:STEL) is about to go ex-dividend in just four days. The ex-dividend date is usually set to be one business day before the record date which is the cut-off date on which you must be present on the company's books as a shareholder in order to receive the dividend. The ex-dividend date is of consequence because whenever a stock is bought or sold, the trade takes at least two business day to settle. This means that investors who purchase Stellar Bancorp's shares on or after the 15th of March will not receive the dividend, which will be paid on the 29th of March.
The company's upcoming dividend is US$0.13 a share, following on from the last 12 months, when the company distributed a total of US$0.52 per share to shareholders. Based on the last year's worth of payments, Stellar Bancorp stock has a trailing yield of around 2.1% on the current share price of US$24.25. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. We need to see whether the dividend is covered by earnings and if it's growing.
Check out our latest analysis for Stellar Bancorp