Published on 5 May 2024 on Simply Wall St. via Yahoo Finance

It Might Not Be A Great Idea To Buy Truist Financial Corporation (NYSE:TFC) For Its Next Dividend

Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Truist Financial Corporation (NYSE:TFC) is about to trade ex-dividend in the next three 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 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. Thus, you can purchase Truist Financial's shares before the 9th of May in order to receive the dividend, which the company will pay on the 3rd of June.

The company's next dividend payment will be US$0.52 per share. Last year, in total, the company distributed US$2.08 to shareholders. Based on the last year's worth of payments, Truist Financial has a trailing yield of 5.4% on the current stock price of US$38.85. 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! So we need to investigate whether Truist Financial can afford its dividend, and if the dividend could grow.