Granite Point Mortgage: Dividend Insights
Portfolio Pulse from Benzinga Insights
Granite Point Mortgage (NYSE:GPMT) has announced a quarterly dividend of 20 cents per share. The stock will go ex-dividend on Friday, meaning it will likely open 20 cents lower. Shareholders who own GPMT as of the end of Thursday's session are eligible to receive the dividend, which will be paid out on October 16, 2023.
September 26, 2023 | 2:46 pm
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Granite Point Mortgage's announcement of a 20 cents per share dividend may cause the stock to open lower on the ex-dividend date. The dividend will be paid out on October 16, 2023.
Dividend announcements often lead to a decrease in the stock price on the ex-dividend date, as the stock price is adjusted to reflect the payout. In this case, GPMT's stock is expected to open 20 cents lower on the ex-dividend date. However, the dividend payout can be seen as a positive return for shareholders, which may attract more investors in the long run.
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