Thursday Is Your Last Chance To Buy Teekay Tankers Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Teekay Tankers (NYSE:TNK) has announced a quarterly dividend of 25 cents per share. The stock will go ex-dividend on Friday, meaning it will trade lower to reflect the payout. Shareholders who own TNK as of the end of Thursday's session are eligible to receive the dividend, which will be paid out on August 25, 2023.
August 08, 2023 | 2:45 pm
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Teekay Tankers has announced a dividend payout, which will likely cause the stock to trade lower on the ex-dividend date. This could impact short-term trading strategies.
When a company announces a dividend, the stock price typically drops by the amount of the dividend on the ex-dividend date. This is because new buyers will not receive the dividend. Therefore, in the short term, TNK's stock price is likely to decrease.
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