Monday Is Your Last Chance To Buy Philip Morris Intl Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Philip Morris Intl (NYSE:PM) has announced a quarterly dividend of $1.3 per share. The stock will go ex-dividend on Tuesday, meaning it will trade lower to reflect the payout. Shareholders who own PM as of the end of Monday's session are eligible to receive the dividend, which will be paid out on October 12, 2023.
September 21, 2023 | 2:45 pm
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Philip Morris Intl's stock price is expected to decrease by the amount of the dividend ($1.3) on Tuesday when it goes ex-dividend. The dividend payout may attract investors leading to increased demand for the stock on Monday.
When a stock goes ex-dividend, its price typically decreases by the amount of the dividend as the company's assets decrease by the amount of the dividend payout. However, the announcement of a dividend can attract investors who want to receive the dividend, potentially increasing the demand for the stock prior to the ex-dividend date.
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