Old Point Financial's Ex-Dividend Date Is Tuesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Old Point Financial (NASDAQ:OPOF) announced a quarterly dividend of 14 cents per share, with the ex-dividend date set for Tuesday. Shareholders owning OPOF stock by the end of Monday's session will be eligible for the dividend, which will be paid out on June 30, 2023.
June 01, 2023 | 2:48 pm
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Old Point Financial's ex-dividend date is Tuesday, and the stock will likely trade lower to reflect the 14 cents per share dividend payout.
Old Point Financial's stock will likely trade lower on the ex-dividend date, as the market adjusts the stock price to reflect the dividend payout. This is a common occurrence for stocks on their ex-dividend dates, as investors who purchase the stock after the ex-dividend date will not be eligible for the dividend. The short-term impact on the stock price is likely to be negative, but this is a normal market reaction to dividend payouts.
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