Office Props IT's Ex-Dividend Date Is Friday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Office Props IT (NASDAQ:OPI) has announced a quarterly dividend of 25 cents per share. The stock will go ex-dividend on Friday, meaning it will likely open 25 cents lower to reflect the payout. Shareholders who own OPI as of the end of Thursday's session are eligible to receive the dividend, which will be paid out on November 16, 2023.
October 17, 2023 | 2:45 pm
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Office Props IT has announced a quarterly dividend of 25 cents per share. The stock will go ex-dividend on Friday, which will likely cause the stock to open lower.
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, Office Props IT's stock is expected to open 25 cents lower on the ex-dividend date.
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