Genie Energy: Dividend Insights
Portfolio Pulse from Benzinga Insights
Genie Energy (NYSE:GNE) announced it will pay a quarterly dividend of 7.5 cents per share. The stock will go ex-dividend on Friday, meaning it will likely open 7.5 cents lower. Shareholders owning GNE by the end of Thursday's session will be eligible for the dividend, which will be paid out on August 21, 2023.
August 08, 2023 | 2:45 pm
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NEUTRAL IMPACT
Genie Energy's announcement of a 7.5 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 attract more investors, potentially leading to a longer-term increase.
When a stock goes ex-dividend, its price typically decreases by the amount of the dividend, which in this case is 7.5 cents per share. This could lead to a short-term decrease in Genie Energy's stock price. However, the dividend payout could make the stock more attractive to income-focused investors, potentially leading to a longer-term increase in the stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100