Tuesday Is Your Last Chance To Buy Virtus Stone Harbor Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Virtus Stone Harbor (NYSE:EDI) has announced a monthly dividend of 7 cents per share. The stock will go ex-dividend on Wednesday, meaning it will likely open 7 cents lower. Shareholders must own the stock prior to the ex-dividend date to be eligible for the dividend. The dividend will be paid out on July 28, 2023.
July 14, 2023 | 2:45 pm
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Virtus Stone Harbor (EDI) has announced a monthly dividend of 7 cents per share. The stock will likely open lower on the ex-dividend date, which is Wednesday.
The announcement of a dividend typically leads to a rise in the stock price as investors buy in to receive the dividend. However, on the ex-dividend date, the stock price usually drops by roughly the amount of the dividend, as the company's assets have effectively decreased by the amount of the dividend payout. In this case, Virtus Stone Harbor's stock is expected to open 7 cents lower on the ex-dividend date.
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