Published on 26 Aug 2023 on Simply Wall St. via Yahoo Finance

Should You Buy Suncor Energy Inc. (TSE:SU) For Its Upcoming Dividend?

Suncor Energy Inc. (TSE:SU) is about to trade ex-dividend in the next four days. The ex-dividend date is one business day before a company's record date, which is the date on which the company determines which shareholders are entitled to receive a dividend. The ex-dividend date is important as the process of settlement involves two full business days. So if you miss that date, you would not show up on the company's books on the record date. Meaning, you will need to purchase Suncor Energy's shares before the 31st of August to receive the dividend, which will be paid on the 25th of September.

The company's next dividend payment will be CA$0.52 per share. Last year, in total, the company distributed CA$2.08 to shareholders. Based on the last year's worth of payments, Suncor Energy has a trailing yield of 4.6% on the current stock price of CA$44.77. 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.

View our latest analysis for Suncor Energy