Published on 30 May 2024 on Simply Wall St. via Yahoo Finance
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 ITT Inc. (NYSE:ITT) is about to go ex-dividend in just 3 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 ITT's shares on or after the 3rd of June will not receive the dividend, which will be paid on the 1st of July.
The company's next dividend payment will be US$0.319 per share. Last year, in total, the company distributed US$1.28 to shareholders. Based on the last year's worth of payments, ITT stock has a trailing yield of around 1.0% on the current share price of US$130.44. We love seeing companies pay a dividend, but it's also important to be sure that laying the golden eggs isn't going to kill our golden goose! We need to see whether the dividend is covered by earnings and if it's growing.