Mfs High Inc Municipal's Ex-Dividend Date Is Tuesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Mfs High Inc Municipal (NYSE:CXE) has announced a monthly dividend of 1.25 cents per share. The ex-dividend date is Tuesday, meaning the stock will likely open 1.25 cents lower to reflect the payout. Shareholders who own CXE as of the end of Monday's session are eligible to receive the dividend, which will be paid out on September 29, 2023.
September 07, 2023 | 2:45 pm
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Mfs High Inc Municipal (NYSE:CXE) has announced a monthly dividend of 1.25 cents per share. The ex-dividend date is Tuesday, which will likely cause the stock to open lower.
The announcement of a dividend typically leads to a temporary increase in the stock price as investors buy in to receive the dividend. However, on the ex-dividend date, the stock price usually drops by approximately the amount of the dividend to reflect the payout. Therefore, it is expected that the stock price of CXE will drop in the short term.
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