Advance Auto Parts Cuts Quarterly Dividend By 83% to $0.25, From $1.50 Prior
Portfolio Pulse from Benzinga Newsdesk
Advance Auto Parts (AAP) has announced an 83% reduction in its quarterly dividend, from $1.50 to $0.25 per share, to be paid on July 28, 2023 to stockholders of record as of July 14, 2023.
May 31, 2023 | 10:44 am
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Advance Auto Parts' stock may be negatively impacted in the short term due to the significant 83% cut in its quarterly dividend.
The 83% reduction in Advance Auto Parts' dividend may lead to short-term negative sentiment among investors, as it signals a decrease in the company's ability to return value to shareholders. This could result in selling pressure and a potential decline in the stock price.
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