Genie Energy's Ex-Dividend Date Is Friday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Genie Energy (NYSE:GNE) has announced a quarterly dividend of 7.5 cents per share. The ex-dividend date is Friday, meaning the stock will likely open 7.5 cents lower to reflect the payout. Shareholders who own GNE as of the end of Thursday's session are eligible to receive the dividend, which will be paid out on November 21, 2023.
November 07, 2023 | 2:45 pm
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Genie Energy's stock price is expected to open lower on the ex-dividend date due to the payout. However, the dividend announcement could attract more investors, potentially stabilizing the price.
The ex-dividend date is when the stock price typically drops by the amount of the dividend to reflect the payout. However, the announcement of a dividend can also attract more investors, which could stabilize the price. Therefore, the short-term impact on GNE's stock price is neutral.
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