Published on 20 Apr 2024 on Simply Wall St. via Yahoo Finance
Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see EnLink Midstream, LLC (NYSE:ENLC) 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. It is important to be aware of the ex-dividend date because any trade on the stock needs to have been settled on or before the record date. In other words, investors can purchase EnLink Midstream's shares before the 25th of April in order to be eligible for the dividend, which will be paid on the 14th of May.
The company's upcoming dividend is US$0.1325 a share, following on from the last 12 months, when the company distributed a total of US$0.53 per share to shareholders. Calculating the last year's worth of payments shows that EnLink Midstream has a trailing yield of 3.9% on the current share price of US$13.59. If you buy this business for its dividend, you should have an idea of whether EnLink Midstream's dividend is reliable and sustainable. That's why we should always check whether the dividend payments appear sustainable, and if the company is growing.