Glen Burnie Bancorp's Ex-Dividend Date Is Friday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Glen Burnie Bancorp (NASDAQ:GLBZ) has announced a quarterly dividend of 10 cents per share. The ex-dividend date is Friday, meaning the stock will likely open 10 cents lower to reflect the payout. Shareholders who own GLBZ as of the end of Thursday's session are eligible to receive the dividend, which will be paid out on August 07, 2023.
July 18, 2023 | 2:45 pm
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Glen Burnie Bancorp has announced a quarterly dividend of 10 cents per share. The stock will likely open lower on the ex-dividend date, which is Friday.
The announcement of a dividend typically leads to a temporary increase in the stock price as investors buy in to receive the dividend. However, on the ex-dividend date, the stock price usually drops by approximately the amount of the dividend, as the company's assets have effectively decreased by the amount of the dividend payout. In this case, Glen Burnie Bancorp's stock is expected to open 10 cents lower on the ex-dividend date.
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