Ingles Markets: Dividend Insights
Portfolio Pulse from Benzinga Insights
Ingles Markets (NASDAQ:IMKTA) announced a quarterly dividend of 16.5 cents per share. The stock will go ex-dividend on Wednesday, meaning it will likely open 16.5 cents lower. Shareholders owning IMKTA as of the end of Tuesday's session will be eligible for the dividend, which will be paid out on October 19, 2023.
October 06, 2023 | 2:45 pm
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Ingles Markets announced a quarterly dividend of 16.5 cents per share. The stock will likely open lower on Wednesday due to the ex-dividend status.
The announcement of a dividend typically leads to a temporary increase in the stock price as investors buy in to qualify for the payout. However, the stock price usually drops on the ex-dividend date by roughly the amount of the dividend, as the company's assets have effectively decreased by the amount of the total payout. In this case, Ingles Markets' stock is expected to open lower on Wednesday, reflecting the 16.5 cents per share dividend.
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