Gabelli Global Utility: Dividend Insights
Portfolio Pulse from Benzinga Insights
Gabelli Global Utility (GLU) has announced a monthly dividend of 10 cents per share, payable on October 24, 2023. The stock will go ex-dividend on Monday, meaning it will trade lower to reflect the payout. Shareholders owning GLU as of the end of Friday's session are eligible for the dividend.
October 11, 2023 | 2:45 pm
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Gabelli Global Utility (GLU) has announced a monthly dividend of 10 cents per share. The stock will go ex-dividend on Monday, which will likely cause the stock price to open lower.
The announcement of a dividend typically leads to a short-term increase in stock price as investors buy in to qualify for the payout. However, once the stock goes ex-dividend, the price usually drops by roughly the amount of the dividend, as the company's assets have effectively decreased by the payout amount. In this case, GLU's stock price is expected to open lower on Monday, reflecting the 10 cents per share dividend.
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