Patrick Industries's Ex-Dividend Date Is Friday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Patrick Industries (NASDAQ:PATK) announced a quarterly dividend of 55 cents per share, with the ex-dividend date set for Friday. Shareholders owning the stock by the end of Thursday are eligible for the dividend, which will be paid on December 11, 2023. The stock is expected to open 55 cents lower on the ex-dividend date.
November 21, 2023 | 2:45 pm
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Patrick Industries will pay a quarterly dividend of 55 cents per share, with the ex-dividend date being this Friday. The stock price is expected to open lower by the dividend amount on the ex-dividend date.
The stock price is likely to drop in the short term by the amount of the dividend as the ex-dividend date approaches, which is a common occurrence in the market. This adjustment reflects the payout of the dividend, which reduces the company's retained earnings and consequently its book value. However, this is a routine event and the price typically adjusts without indicating any change in the company's fundamental value.
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