Seagate Tech Hldgs: Dividend Insights
Portfolio Pulse from Benzinga Insights
Seagate Tech Hldgs (NASDAQ:STX) announced it will pay a quarterly dividend of 70 cents per share. The stock will go ex-dividend on Monday, meaning it will likely open 70 cents lower. Shareholders owning STX by the end of Friday's session will be eligible for the dividend, which will be paid out on October 10, 2023.
September 20, 2023 | 2:45 pm
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Seagate Tech Hldgs (NASDAQ:STX) will pay a quarterly dividend of 70 cents per share. The stock will go ex-dividend on Monday, which may cause a temporary drop in the stock price.
The announcement of a dividend payout often leads to a temporary increase in the stock price as investors buy in to qualify for the dividend. However, the stock price typically 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 dividend payout. In this case, STX is expected to open 70 cents lower on Monday.
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