Sirius XM Holdings's Ex-Dividend Date Is Monday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Sirius XM Holdings (NASDAQ:SIRI) announced it will pay a quarterly dividend of 2.66 cents per share. The stock will go ex-dividend on Monday, meaning it will likely open 2.66 cents lower. Shareholders who own SIRI as of the end of Friday's session are eligible to receive the dividend, which will be paid out on November 29, 2023.
November 01, 2023 | 2:45 pm
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Sirius XM Holdings will pay a quarterly dividend of 2.66 cents per share. The stock will go ex-dividend on Monday, which may cause the stock to open lower.
The announcement of a dividend payout usually leads to a temporary increase in the stock price as investors buy the stock to qualify for the dividend. However, on the ex-dividend date, the stock price typically drops by the amount of the dividend as the company's value is reduced by the payout. Therefore, Sirius XM's stock price is likely to decrease in the short term.
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