Tuesday Is Your Last Chance To Buy Erie Indemnity Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Erie Indemnity (NASDAQ:ERIE) has announced a quarterly dividend of $1.19 per share. The stock will go ex-dividend on Wednesday, meaning it will likely open $1.19 lower than usual. Shareholders must own the stock prior to the ex-dividend date to be eligible for the dividend. The dividend will be paid out on October 20, 2023.
September 29, 2023 | 2:46 pm
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Erie Indemnity's stock price is expected to open lower on Wednesday due to the ex-dividend status. However, the announcement of a $1.19 per share dividend could attract investors seeking income, potentially offsetting some of the price drop.
When a stock goes ex-dividend, its price typically drops to reflect the payout, which could lead to a short-term decrease in Erie Indemnity's stock price. However, the announcement of a dividend can also attract new investors, particularly those seeking income, which could help offset some of the price drop.
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