Algoma Steel Group: Dividend Insights
Portfolio Pulse from Benzinga Insights
Algoma Steel Group (NASDAQ:ASTL) has announced a quarterly dividend of 5 cents per share. The stock will go ex-dividend on Thursday, meaning it will trade lower to reflect the payout. Shareholders owning ASTL as of the end of Wednesday's session are eligible for the dividend, which will be paid out on September 29, 2023.
August 21, 2023 | 2:45 pm
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Algoma Steel Group's dividend announcement may lead to a short-term decrease in the stock price as it goes ex-dividend. However, the dividend payout could attract more investors, potentially stabilizing the stock price.
When a stock goes ex-dividend, it typically trades lower to reflect the payout, which could lead to a short-term decrease in ASTL's stock price. However, the announcement of a dividend payout could attract more investors, potentially stabilizing the stock price in the longer term.
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