First Trust Mortgage Inc's Ex-Dividend Date Is Monday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
First Trust Mortgage Inc (NYSE:FMY) has announced a monthly dividend of 5.5 cents per share. The ex-dividend date is Monday, meaning the stock will likely open 5.5 cents lower to reflect the payout. Shareholders who own FMY as of the end of Friday's session are eligible to receive the dividend, which will be paid out on July 17, 2023.
June 28, 2023 | 2:46 pm
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First Trust Mortgage Inc's stock will likely open lower on Monday due to the ex-dividend date. Shareholders as of Friday's session will receive a 5.5 cents per share dividend on July 17, 2023.
The ex-dividend date is the date on which the stock price is adjusted downwards by the amount of the dividend. This is because the dividend is a distribution of the company's earnings, which reduces the company's retained earnings and therefore its stock price. As a result, the stock price of First Trust Mortgage Inc is expected to open lower on Monday. However, this is a normal occurrence on the ex-dividend date and does not necessarily indicate a negative outlook for the company.
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