Tuesday Is Your Last Chance To Buy Orchid Island Cap Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Orchid Island Cap (NYSE:ORC) has announced a monthly dividend of 16 cents per share. The stock will go ex-dividend on Wednesday, meaning it will trade lower to reflect the payout. Shareholders who own ORC as of the end of Tuesday's session are eligible to receive the dividend, which will be paid out on September 27, 2023.
August 25, 2023 | 2:45 pm
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Orchid Island Cap (ORC) is set to pay a dividend of 16 cents per share. The stock will go ex-dividend on Wednesday, potentially leading to a lower opening price.
The announcement of the dividend payout and the ex-dividend date can impact the stock price. Typically, a stock's price decreases on the ex-dividend date by an amount roughly equal to the dividend paid. This is because the stock will trade without the value of the dividend payout. Therefore, the stock price of ORC may open lower on Wednesday.
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