Thursday Is Your Last Chance To Buy Patrick Industries Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Patrick Industries (NASDAQ:PATK) has announced a quarterly dividend of 45 cents per share, which will be paid out to shareholders on September 11, 2023. To be eligible for this dividend, shareholders must own the stock prior to the ex-dividend date, which is this Friday. The stock will likely open 45 cents lower on Friday to reflect the payout.
August 22, 2023 | 2:45 pm
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Patrick Industries is set to pay a 45 cents per share dividend on September 11, 2023. The stock is expected to open lower on the ex-dividend date, this Friday.
The announcement of a dividend payout typically leads to a short-term 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 roughly the amount of the dividend, as the company's assets have effectively decreased by the total payout. In this case, Patrick Industries' stock is expected to open 45 cents lower this Friday.
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