Penns Woods Bancorp's Ex-Dividend Date Is Friday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Penns Woods Bancorp (NASDAQ:PWOD) has announced a quarterly dividend of 32 cents per share. The ex-dividend date is Friday, meaning the stock will likely open 32 cents lower to reflect the payout. Shareholders who own PWOD as of the end of Thursday's session are eligible to receive the dividend, which will be paid out on September 19, 2023.
August 29, 2023 | 2:45 pm
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Penns Woods Bancorp's stock will likely open lower on the ex-dividend date due to the dividend payout. The dividend will be paid out on September 19, 2023.
The stock price typically drops on the ex-dividend date by an amount roughly equal to the dividend paid. This is because the dividend payout reduces the company's retained earnings, which impacts the company's book value and thus the stock price. Therefore, it is expected that PWOD's stock price will open lower on the ex-dividend date.
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