Northwest Bancshares: Dividend Insights
Portfolio Pulse from Benzinga Insights
Northwest Bancshares (NASDAQ:NWBI) announced a quarterly dividend of 20 cents per share. The stock will go ex-dividend on Wednesday, meaning it will likely open 20 cents lower. Shareholders owning NWBI as of the end of Tuesday's session are eligible for the dividend payout. The dividend will be paid out on August 14, 2023.
July 28, 2023 | 2:45 pm
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Northwest Bancshares has announced a dividend of 20 cents per share. The stock will go ex-dividend on Wednesday, which may cause a temporary drop in the stock price.
The announcement of a dividend often leads to a temporary increase in stock price as investors buy in to receive the dividend. However, once the stock goes ex-dividend, the price typically drops by the amount of the dividend as the company's retained earnings decrease. In this case, NWBI's stock price is expected to drop temporarily by 20 cents per share.
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