Monday Is Your Last Chance To Buy Royal Bank of Canada Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Royal Bank of Canada (NYSE:RY) has announced a quarterly dividend of $1.35 per share. The stock will go ex-dividend on Tuesday, meaning it will trade lower to reflect the payout. Shareholders who own RY as of the end of Monday's session are eligible to receive the dividend, which will be paid out on August 24, 2023.
July 20, 2023 | 2:45 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
Royal Bank of Canada's stock is expected to trade lower on Tuesday due to the ex-dividend date. The dividend payout may attract investors, potentially increasing demand for the stock on Monday.
The announcement of a dividend payout often attracts investors who are interested in receiving the dividend. This could increase demand for the stock prior to the ex-dividend date, potentially leading to a short-term increase in the stock price. However, the stock is expected to trade lower on the ex-dividend date as it will no longer carry the right to the upcoming dividend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100