Friday Is Your Last Chance To Buy Algoma Steel Gr Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Algoma Steel Gr (NASDAQ:ASTL) has announced a quarterly dividend of 5 cents per share, to be paid out to shareholders on July 24, 2023. The stock will go ex-dividend on Monday, meaning it will trade lower to reflect the payout. Friday is the last day for investors to buy the stock and be eligible for the dividend.
June 28, 2023 | 2:45 pm
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Algoma Steel Gr's stock will likely open lower on Monday due to the ex-dividend status. However, the announced dividend could attract investors, potentially increasing demand for the stock before the ex-dividend date.
The announcement of a dividend payout often attracts investors who are interested in receiving the dividend, potentially driving up the stock price in the short term. However, once the stock goes ex-dividend, it typically opens lower to reflect the payout, which could lead to a short-term decrease in the stock price.
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