Sandy Spring Bancorp's Ex-Dividend Date Is Tuesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Sandy Spring Bancorp (NASDAQ:SASR) has announced a quarterly dividend of 34 cents per share. The ex-dividend date is Tuesday, meaning the stock will likely trade lower to reflect the payout. Shareholders owning the stock prior to the ex-dividend date are eligible for the dividend. The payout will be made on August 16, 2023.
August 04, 2023 | 1:38 pm
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Sandy Spring Bancorp's stock is likely to trade lower on the ex-dividend date due to the announced dividend of 34 cents per share. Shareholders as of the end of Monday's session are eligible for the dividend.
The announcement of a dividend often leads to a decrease in the stock price on the ex-dividend date, as the stock price is adjusted to reflect the payout. In this case, Sandy Spring Bancorp's stock is expected to open 34 cents lower on the ex-dividend date. This is likely to have a short-term negative impact on the stock price.
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