Independent Bank Gr's Ex-Dividend Date Is Wednesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Independent Bank Gr (NASDAQ:IBTX) announced a quarterly dividend of 38 cents per share, with the ex-dividend date set for Wednesday. Shareholders owning the stock by the end of Tuesday's session will be eligible for the dividend, which will be paid on February 15, 2024. The stock is expected to open 38 cents lower on the ex-dividend date.
January 26, 2024 | 2:45 pm
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Independent Bank Gr (IBTX) will likely see its stock price open lower on the ex-dividend date due to the dividend payout of 38 cents per share.
Stocks typically drop by the amount of the dividend on the ex-dividend date as the dividend payment is factored into the stock price. Since IBTX is paying out a 38 cents per share dividend, it is expected to open lower by a similar amount, reflecting the cash outflow from the company to its shareholders.
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