Canadian Imperial Bank's Ex-Dividend Date Is Wednesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Canadian Imperial Bank (NYSE:CM) has announced a quarterly dividend of 87 cents per share. The ex-dividend date is Wednesday, meaning the stock will likely open 87 cents lower to reflect the payout. Shareholders who own CM as of the end of Tuesday's session are eligible to receive the dividend, which will be paid out on October 27, 2023.
September 22, 2023 | 2:45 pm
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Canadian Imperial Bank's stock is likely to open lower on the ex-dividend date due to the announced dividend of 87 cents per share.
When a company announces a dividend, the stock price typically adjusts downward on the ex-dividend date by the amount of the dividend. In this case, Canadian Imperial Bank has announced a dividend of 87 cents per share, which is likely to result in a lower opening price on the ex-dividend date.
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