Wednesday Is Your Last Chance To Buy Nuveen Preferred & Income Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Nuveen Preferred & Income (NYSE:JPC) has announced a monthly dividend of 4.19 cents per share. The stock will go ex-dividend on Thursday, meaning it will trade lower to reflect the payout. Shareholders must own the stock prior to the ex-dividend date to be eligible for the dividend. The dividend will be paid out on December 01, 2023.
October 30, 2023 | 2:46 pm
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Nuveen Preferred & Income (JPC) has announced a monthly dividend of 4.19 cents per share. The stock will likely trade lower on the ex-dividend date.
The announcement of a dividend payout typically leads to a short-term increase in the stock price as investors buy in to qualify for the dividend. However, on the ex-dividend date, the stock price usually drops by roughly the amount of the dividend payout, as the company's assets have effectively decreased by the total amount of the dividend. In this case, JPC's stock price is expected to decrease by the amount of the dividend (4.19 cents per share) on the ex-dividend date.
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