Granite Ridge Resources: Dividend Insights
Portfolio Pulse from Benzinga Insights
Granite Ridge Resources (NYSE:GRNT) has announced a quarterly dividend of 11 cents per share. The stock will go ex-dividend on Thursday, meaning it will likely open 11 cents lower. Shareholders who own GRNT as of the end of Wednesday's session are eligible to receive the dividend, which will be paid out on September 15, 2023.
August 28, 2023 | 2:45 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Granite Ridge Resources has announced a quarterly dividend of 11 cents per share. The stock will likely open lower on the ex-dividend date.
The announcement of a dividend typically leads to a temporary increase in the stock price as investors buy in to qualify for the payout. However, the stock price usually drops on the ex-dividend date by roughly the amount of the dividend, as the company's assets have effectively decreased by the amount of the payout. In this case, Granite Ridge Resources' stock is expected to open 11 cents lower on the ex-dividend date.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100