Franklin Universal Trust's Ex-Dividend Date Is Wednesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Franklin Universal Trust (NYSE:FT) has announced a monthly dividend of 4.25 cents per share. The ex-dividend date is Wednesday, meaning the stock will likely open 4.25 cents lower to reflect the payout. Shareholders owning FT by the end of Tuesday's session are eligible for the dividend, which will be paid out on July 31, 2023.
July 14, 2023 | 2:45 pm
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Franklin Universal Trust's stock is likely to open lower on Wednesday due to the ex-dividend date. The dividend will be paid out on July 31, 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 is expected to open lower on the ex-dividend date.
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