Saba Cap Inc & Opps: Dividend Insights
Portfolio Pulse from Benzinga Insights
Saba Cap Inc & Opps (NYSE:BRW) has announced a monthly dividend of 8.5 cents per share. The stock will go ex-dividend on Wednesday, meaning it will likely open 8.5 cents lower. Shareholders owning the stock by the end of Tuesday's session will be eligible for the dividend, which will be paid out on November 30, 2023.
November 03, 2023 | 2:45 pm
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Saba Cap Inc & Opps (BRW) has announced a monthly dividend of 8.5 cents per share. The stock will go ex-dividend on Wednesday, which may cause a short-term drop in the stock price.
The announcement of a dividend often leads to a short-term increase in the stock price as investors buy in to receive the dividend. However, once the stock goes ex-dividend, the stock price typically drops by the amount of the dividend as the company's assets have effectively decreased by the amount of the dividend payout. In this case, BRW's stock price is expected to drop by 8.5 cents when it goes ex-dividend on Wednesday.
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