Wednesday Is Your Last Chance To Buy Sitio Royalties Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Sitio Royalties (NYSE:STR) has announced a quarterly dividend of 40 cents per share. The stock will go ex-dividend on Thursday, meaning it will likely open 40 cents lower. Shareholders who own STR as of the end of Wednesday's session are eligible to receive the dividend payout. The dividend will be paid out on August 31, 2023.
August 14, 2023 | 2:45 pm
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Sitio Royalties announced a 40 cents per share dividend. The stock will likely open lower on the ex-dividend day, Thursday. Shareholders owning STR by end of Wednesday are eligible for the dividend.
The announcement of a dividend typically leads to a temporary increase in the stock price as investors buy in to qualify for the payout. However, on the ex-dividend date, the stock price usually drops by about the amount of the dividend, as the company's assets have effectively decreased by the total payout amount. In this case, Sitio Royalties' stock is expected to open 40 cents lower on the ex-dividend day.
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