Independent Bank's Ex-Dividend Date Is Friday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Independent Bank (NASDAQ:INDB) has announced a quarterly dividend of 55 cents per share. The ex-dividend date is Friday, meaning the stock will likely open 55 cents lower to reflect the payout. Shareholders owning INDB as of the end of Thursday's session are eligible for the dividend, which will be paid out on October 06, 2023.
September 26, 2023 | 2:45 pm
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Independent Bank's stock is likely to open lower on Friday due to the ex-dividend date. The dividend will be paid out on October 06, 2023.
The ex-dividend date is the date on which the stock price is adjusted downwards by the amount of the dividend. This is because on the ex-dividend date, a new buyer of the stock will not receive the upcoming dividend. Therefore, the stock price is expected to drop by the amount of the dividend to reflect this. In this case, Independent Bank's stock is expected to open 55 cents lower on Friday.
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