Published on 23 Dec 2023 on Simply Wall St. via Yahoo Finance

Tricon Residential (TSE:TCN) Could Be A Buy For Its Upcoming Dividend

Tricon Residential Inc. (TSE:TCN) is about to trade ex-dividend in the next 4 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 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. In other words, investors can purchase Tricon Residential's shares before the 28th of December in order to be eligible for the dividend, which will be paid on the 15th of January.

The company's next dividend payment will be US$0.058 per share, on the back of last year when the company paid a total of US$0.23 to shareholders. Calculating the last year's worth of payments shows that Tricon Residential has a trailing yield of 2.5% on the current share price of CA$12.12. 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.

See our latest analysis for Tricon Residential