Franklin Electric's Ex-Dividend Date Is Wednesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Franklin Electric (NASDAQ:FELE) announced it will pay a quarterly dividend of 22.5 cents per share. The ex-dividend date is Wednesday, meaning the stock will likely open 22.5 cents lower. Shareholders owning FELE as of the end of Tuesday's session are eligible for the dividend payout. The dividend will be paid out on August 17, 2023.
July 28, 2023 | 2:45 pm
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Franklin Electric's stock price may open lower on the ex-dividend date due to the dividend payout. However, the impact is typically short-lived as the market adjusts.
When a company announces a dividend, the stock price typically adjusts downward on the ex-dividend date by the amount of the dividend. This is because new buyers of the stock will not receive the dividend. However, this is a temporary effect and the stock price usually recovers over time.
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