City Office REIT's Ex-Dividend Date Is Monday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
City Office REIT (NYSE:CIO) has announced a quarterly dividend of 10 cents per share. The ex-dividend date is Monday, meaning the stock will likely trade lower to reflect the payout. Shareholders who own CIO as of the end of Friday's session are eligible to receive the dividend, which will be paid out on October 24, 2023.
October 04, 2023 | 2:45 pm
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City Office REIT's announcement of a 10 cents per share dividend may cause the stock to trade lower on the ex-dividend date. Shareholders as of Friday's session will receive the dividend on October 24, 2023.
The announcement of a dividend often leads to a decrease in the stock's price on the ex-dividend date, reflecting the amount of the dividend. In this case, City Office REIT's stock is expected to open 10 cents lower on the ex-dividend date. This is a direct impact on the stock's price in the short term. However, the dividend payment can be seen as a positive signal to investors, indicating the company's profitability and its ability to return capital to shareholders.
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