Published on 19 Apr 2024 on Simply Wall St. via Yahoo Finance

Lakeland Financial Corporation (NASDAQ:LKFN) Goes Ex-Dividend Soon

Readers hoping to buy Lakeland Financial Corporation (NASDAQ:LKFN) for its dividend will need to make their move shortly, as the stock is about to trade ex-dividend. 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. In other words, investors can purchase Lakeland Financial's shares before the 24th of April in order to be eligible for the dividend, which will be paid on the 6th of May.

The company's next dividend payment will be US$0.48 per share, on the back of last year when the company paid a total of US$1.92 to shareholders. Looking at the last 12 months of distributions, Lakeland Financial has a trailing yield of approximately 3.2% on its current stock price of US$59.12. Dividends are an important source of income to many shareholders, but the health of the business is crucial to maintaining those dividends. So we need to check whether the dividend payments are covered, and if earnings are growing.