ConocoPhillips's Ex-Dividend Date Is Tuesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
ConocoPhillips (NYSE:COP) has announced a quarterly dividend of 51 cents per share. The ex-dividend date is Tuesday, meaning the stock will likely open 51 cents lower to reflect the payout. Shareholders who own COP as of the end of Monday's session are eligible to receive the dividend, which will be paid out on September 01, 2023.
August 10, 2023 | 2:45 pm
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ConocoPhillips's stock is likely to open lower on Tuesday due to the ex-dividend date. The company's shareholders as of the end of Monday's session will receive a 51 cents per share dividend on September 01, 2023.
The announcement of a dividend typically leads to a temporary increase in the stock price as investors buy in to qualify for the dividend. However, on the ex-dividend date, the stock price usually drops by about the amount of the dividend as the company's assets decrease by the amount of the dividend payout. In this case, ConocoPhillips's stock is expected to open lower on Tuesday, reflecting the 51 cents per share dividend.
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