Thursday Is Your Last Chance To Buy Sunoco Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Sunoco (NYSE:SUN) has announced a quarterly dividend of 84.2 cents per share, payable on November 20, 2023. To be eligible for the dividend, shareholders must own the stock before the ex-dividend date, which is this Friday. The stock is expected to open 84.2 cents lower on Friday to reflect the payout.
October 24, 2023 | 2:45 pm
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NEUTRAL IMPACT
Sunoco's stock is expected to open lower on the ex-dividend date due to the dividend payout. However, the dividend may attract investors, potentially increasing demand for the stock before the ex-dividend date.
Dividend payouts typically result in a decrease in the stock's price on the ex-dividend date, reflecting the amount of the dividend. However, the announcement of a dividend can attract investors, potentially increasing the demand for the stock before the ex-dividend date. The net effect on the stock price in the short term is uncertain, hence the neutral score.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100