Franklin Universal Trust's Ex-Dividend Date Is Friday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Franklin Universal Trust (NYSE:FT) has announced a monthly dividend of 4.25 cents per share. The ex-dividend date is Friday, meaning the stock will likely open 4.25 cents lower to reflect the payout. Shareholders owning FT by the end of Thursday's session are eligible for the dividend, which will be paid out on October 31, 2023.
October 10, 2023 | 2:45 pm
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Franklin Universal Trust (NYSE:FT) has announced a monthly dividend of 4.25 cents per share. The stock will likely open lower on the ex-dividend date, which is Friday.
The announcement of a dividend typically leads to a temporary increase in the stock price as investors buy in to receive the dividend. However, on the ex-dividend date, the stock price usually drops by approximately the amount of the dividend to reflect the payout. Therefore, it is expected that FT's stock price will open lower on the ex-dividend date.
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