Astec Industries's Ex-Dividend Date Is Thursday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Astec Industries (NASDAQ:ASTE) announced it will pay a quarterly dividend of 13 cents per share. The ex-dividend date is Thursday, meaning the stock will likely open 13 cents lower. Shareholders owning ASTE by the end of Wednesday's session are eligible for the dividend, which will be paid on December 01, 2023.
November 06, 2023 | 2:45 pm
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Astec Industries will pay a quarterly dividend of 13 cents per share. The stock is expected to open lower on the ex-dividend date.
The announcement of a dividend payout typically leads to a temporary 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 about the amount of the dividend, as the company's assets have effectively decreased by the total payout amount. In this case, Astec Industries' stock is expected to open 13 cents lower on the ex-dividend date.
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