MetroCity Bankshares's Ex-Dividend Date Is Tuesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
MetroCity Bankshares (NASDAQ:MCBS) has announced a quarterly dividend of 18 cents per share. The ex-dividend date is Tuesday, meaning the stock will likely open 18 cents lower to reflect the payout. Shareholders who own MCBS as of the end of Monday's session are eligible to receive the dividend, which will be paid out on November 10, 2023.
October 26, 2023 | 2:45 pm
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MetroCity Bankshares has announced a quarterly dividend of 18 cents per share. The stock is expected to open lower on the ex-dividend date, Tuesday.
The announcement of a dividend typically leads to a temporary increase in the stock price as investors buy in to receive the dividend. However, on the ex-dividend date, the stock price usually drops by about the amount of the dividend, as the company's assets have effectively decreased by the amount of the dividend payout. In this case, MetroCity Bankshares' stock is expected to open lower on Tuesday, reflecting the 18 cents per share dividend.
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