First Commonwealth's Ex-Dividend Date Is Thursday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
First Commonwealth (NYSE:FCF) has announced a quarterly dividend of 12.5 cents per share. The ex-dividend date is Thursday, meaning the stock will likely open 12.5 cents lower to reflect the payout. Shareholders who own FCF as of the end of Wednesday's session are eligible to receive the dividend, which will be paid out on August 18, 2023.
July 31, 2023 | 2:46 pm
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First Commonwealth's stock will likely open lower on Thursday due to the ex-dividend date. Shareholders as of Wednesday's session end are eligible for the dividend payout on August 18, 2023.
The ex-dividend date is the deadline for investors to be in the company's books as a shareholder to receive the dividend. The stock price typically drops by about the same amount of the dividend on the ex-dividend date. This is because the dividend payout directly reduces the company's assets, therefore causing a decrease in the stock's intrinsic value.
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