Flaherty & Crumrine Prfd: Dividend Insights
Portfolio Pulse from Benzinga Insights
Flaherty & Crumrine Prfd (NYSE:PFO) announced a monthly dividend of 4.5 cents per share, with Tuesday being the last day for investors to be eligible for the next payout. The stock will go ex-dividend on Wednesday, which will likely result in the stock opening 4.5 cents lower to reflect the payout. Shareholders owning PFO by the end of Tuesday's session will receive the dividend on December 29, 2023.
December 15, 2023 | 2:45 pm
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NEGATIVE IMPACT
Flaherty & Crumrine Prfd (PFO) will pay a 4.5 cents monthly dividend, with shares expected to open lower by the same amount on the ex-dividend date.
The announcement of the dividend payout and the ex-dividend date typically leads to a short-term decrease in the stock price by the amount of the dividend, as the value of the dividend is no longer included in the stock price. This is a common and expected market reaction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100