Wynn Resorts: Dividend Insights
Portfolio Pulse from Benzinga Insights
Wynn Resorts (NASDAQ:WYNN) has announced a quarterly dividend of 20 cents per share. The stock will go ex-dividend on Friday, meaning it will likely open 20 cents lower. Shareholders who own WYNN as of the end of Thursday's session are eligible to receive the dividend, which will be paid out on August 31, 2023.
August 15, 2023 | 2:45 pm
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Wynn Resorts has announced a quarterly dividend of 20 cents per share. The stock will likely open 20 cents lower on the ex-dividend date, which is Friday.
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 have effectively decreased by the amount of the total dividend payout. In this case, Wynn Resorts' stock is expected to open 20 cents lower on the ex-dividend date.
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