Fastenal's Ex-Dividend Date Is Wednesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Fastenal (NASDAQ:FAST) has announced a quarterly dividend of 35 cents per share. The ex-dividend date is Wednesday, meaning the stock will likely open 35 cents lower to reflect the payout. Shareholders who own FAST as of the end of Tuesday's session are eligible to receive the dividend, which will be paid out on August 24, 2023.
July 21, 2023 | 2:45 pm
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Fastenal's announcement of a 35 cents per share dividend may cause the stock to open lower on the ex-dividend date. However, this is a regular part of the dividend process and not a reflection of the company's performance.
The announcement of a dividend often leads to a decrease in the stock price on the ex-dividend date. This is because the stock price is adjusted to reflect the payout. However, this is a normal part of the dividend process and does not reflect negatively on the company's performance.
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