Upcoming Ex-Dividend Date for Illinois Tool Works, Canadian Pacific, and Deere

Investors in Illinois Tool Works ITW, Canadian Pacific Railway Limited CP, and Deere & Company DE should note that these stocks are scheduled to go ex-dividend on December 28, 2023. This is an important date as it signifies the cut-off for shareholders to be eligible to receive their company's declared dividend. It's essential for shareholders to own the stock before the ex-dividend date to be entitled to the upcoming dividend payout.

Understanding the Importance of the Ex-Dividend Date

For those unfamiliar with dividend investing, the ex-dividend date is the day on which a stock starts trading without the value of its next dividend payment. Individuals purchasing the stock on or after this date will not receive the dividend. Those who are shareholders at the close of business just before the ex-dividend date will be on the company's books to receive the declared dividend.

The Companies Going Ex-Dividend

Illinois Tool Works ITW, a well-recognized American manufacturer of engineered fasteners, components, and specialty products, is one of the companies on the upcoming ex-dividend list. Another notable company is Canadian Pacific Railway Limited CP. Based in Calgary, Canada, it operates an extensive transcontinental freight rail network throughout Canada and the United States. Finally, Deere & Company, operating under the brand name John Deere, is known for its production of agricultural, construction, and forestry machinery, as well as diesel engines and drivetrains. It is a mainstay in the heavy equipment industry, with additional interests in lawn care equipment.

Implications for Investors

Investors holding shares of these robust companies should be aware of the ex-dividend date, ensuring they don't sell their shares too soon if they wish to receive dividends. Moreover, potential buyers interested in capturing the dividend may look to open positions prior to the ex-dividend date. It is worth noting, however, that stocks typically drop by an amount approximately equal to the dividend paid post-ex-dividend date, reflecting the payout adjustment.

Ex-Dividend, Investing, Dividends