Covenant Logistics Gr: Dividend Insights
Portfolio Pulse from Benzinga Insights
Covenant Logistics Gr (NASDAQ:CVLG) announced it will pay 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 owning the stock by end of Wednesday are eligible for the dividend, which will be paid out on September 29, 2023.
August 28, 2023 | 2:45 pm
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Covenant Logistics Gr will pay a quarterly dividend of 11 cents per share. The stock will likely open lower on the ex-dividend date.
The company's announcement of a dividend payout typically leads to a decrease in the stock price on the ex-dividend date. This is because the stock price is adjusted to reflect the payout, which reduces the company's retained earnings and therefore its stock price. In this case, the stock is expected to open 11 cents lower.
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