Magyar Bancorp: Dividend Insights
Portfolio Pulse from Benzinga Insights
Magyar Bancorp (NASDAQ:MGYR) has announced a quarterly dividend of 3 cents per share. The stock will go ex-dividend on Wednesday, meaning it will trade lower to reflect the payout. Shareholders who own MGYR as of the end of Tuesday's session are eligible to receive the dividend, which will be paid out on August 17, 2023.
July 28, 2023 | 2:46 pm
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Magyar Bancorp's announcement of a 3 cents per share dividend may lead to a short-term decrease in the stock price as it goes ex-dividend. However, the dividend payout could also attract income-focused investors.
When a stock goes ex-dividend, it typically trades lower to reflect the payout, which could lead to a short-term decrease in MGYR's stock price. However, the announcement of a dividend payout could also attract income-focused investors, potentially offsetting any short-term decrease.
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