Tuesday Is Your Last Chance To Buy Tortoise Midstream Energy Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Tortoise Midstream Energy (NYSE:NTG) has announced a quarterly dividend of 77 cents per share. The stock will go ex-dividend on Wednesday, meaning it will trade lower to reflect the payout. Shareholders must own the stock prior to the ex-dividend date to be eligible for the dividend. The dividend will be paid out on August 31, 2023.
August 18, 2023 | 2:45 pm
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Tortoise Midstream Energy's announcement of a 77 cents per share dividend may lead to increased buying before the ex-dividend date, potentially boosting the stock price in the short term. However, the stock is expected to trade lower post the ex-dividend date.
The announcement of a dividend often leads to increased buying as investors seek to qualify for the payout, potentially boosting the stock price in the short term. However, stocks typically trade lower after the ex-dividend date as the value of the dividend is no longer included in the stock price.
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