Pioneer Municipal High IT: Dividend Insights
Portfolio Pulse from Benzinga Insights
Pioneer Municipal High IT (NYSE:MHI) has announced a monthly dividend of 2.75 cents per share. The stock will go ex-dividend on Tuesday, meaning it will trade lower to reflect the payout. Shareholders owning MHI as of the end of Monday's session will be eligible for the dividend, which will be paid out on October 31, 2023.
October 12, 2023 | 2:45 pm
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Pioneer Municipal High IT (NYSE:MHI) has announced a monthly dividend of 2.75 cents per share. The stock will go ex-dividend on Tuesday, which will likely cause the stock to open lower.
The announcement of a dividend typically leads to a short-term increase in the stock price as investors buy in to qualify for the payout. However, the stock will likely open lower on the ex-dividend date as the market adjusts for the payout. This is a common occurrence and does not necessarily reflect negatively on the company's performance or value.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100