Magellan Midstream's Ex-Dividend Date Is Friday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Magellan Midstream (NYSE:MMP) has announced a quarterly dividend of $1.0475 per share. The ex-dividend date is Friday, meaning the stock will likely open lower to reflect the payout. Shareholders who own MMP as of the end of Thursday's session are eligible to receive the dividend, which will be paid out on August 14, 2023.
August 04, 2023 | 9:17 am
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Magellan Midstream's announcement of a quarterly dividend of $1.0475 per share may cause the stock to open lower on the ex-dividend date, which is Friday.
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. Therefore, it is expected that MMP's stock price will open lower on Friday.
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