Financial Institutions: Dividend Insights
Portfolio Pulse from Benzinga Insights
Financial Institutions (NASDAQ:FISI) has announced a quarterly dividend of 30 cents per share. The stock will go ex-dividend on Wednesday, meaning it will likely open 30 cents lower. Shareholders who own FISI as of the end of Tuesday's session are eligible to receive the dividend, which will be paid out on October 02, 2023.
September 08, 2023 | 2:45 pm
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Financial Institutions has announced a quarterly dividend of 30 cents per share. The stock will likely open lower on the ex-dividend date, which is Wednesday.
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 about the amount of the dividend, as the company's assets have effectively decreased by the amount of the dividend payout. In this case, FISI's stock is expected to open 30 cents lower on the ex-dividend date.
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