Wednesday Is Your Last Chance To Buy Advent Convertible Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Advent Convertible (NYSE:AVK) announced a monthly dividend of 11.72 cents per share, with Wednesday being the last day for investors to buy the stock and be eligible for the dividend. The stock will go ex-dividend on Thursday and is expected to open 11.72 cents lower to reflect the payout. The dividend is scheduled to be paid on January 31, 2024.
January 08, 2024 | 2:45 pm
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Advent Convertible (NYSE:AVK) will pay a monthly dividend of 11.72 cents per share, with the ex-dividend date set for Thursday. The stock price is expected to adjust lower by the dividend amount on the ex-dividend date.
The announcement of a dividend typically does not have a significant impact on the stock price beyond the mechanical adjustment lower by the amount of the dividend on the ex-dividend date. Investors who purchase before the ex-dividend date are entitled to the dividend, which is a routine event for dividend-paying stocks. The short-term price impact is neutral as the price adjustment is expected and represents the distribution of the dividend to shareholders.
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