Magnolia Oil & Gas's Ex-Dividend Date Is Wednesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Magnolia Oil & Gas (NYSE:MGY) announced it will pay a quarterly dividend of 11.5 cents per share. The ex-dividend date is Wednesday, meaning the stock will likely open 11.5 cents lower to reflect the payout. Shareholders owning MGY as of the end of Tuesday's session are eligible for the dividend, which will be paid out on September 01, 2023.
August 04, 2023 | 3:40 pm
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Magnolia Oil & Gas's stock price is expected to open lower on the ex-dividend date due to the payout of the 11.5 cents per share dividend.
When a company announces a dividend, the stock price typically adjusts downward on the ex-dividend date by the amount of the dividend. In this case, Magnolia Oil & Gas has announced a dividend of 11.5 cents per share, which is expected to result in a lower opening price for the stock on the ex-dividend date.
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