Holly Energy Partners: Dividend Insights
Portfolio Pulse from Benzinga Insights
Holly Energy Partners (NYSE:HEP) has announced a quarterly dividend of 35 cents per share. The stock will go ex-dividend on Friday, meaning it will likely open 35 cents lower. Shareholders who own HEP as of the end of Thursday's session are eligible to receive the dividend. The payout will be made on November 10, 2023.
October 24, 2023 | 2:45 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Holly Energy Partners has announced a quarterly dividend of 35 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 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 payout. In this case, Holly Energy Partners' stock is expected to open 35 cents lower on the ex-dividend date.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100