Tuesday Is Your Last Chance To Buy Summit State Bank Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Summit State Bank (NASDAQ:SSBI) announced a quarterly dividend of 12 cents per share, with Tuesday being the last day for investors to be eligible for this payout. The stock will go ex-dividend on Wednesday, likely opening 12 cents lower. The dividend is scheduled for payment on February 15, 2024.
February 02, 2024 | 2:45 pm
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Summit State Bank announced a quarterly dividend of 12 cents per share, with the stock going ex-dividend on Wednesday and the dividend payment scheduled for February 15, 2024.
The announcement of a dividend payout typically has a neutral to slightly positive impact on a stock's price in the short term, as it reflects the company's ability to generate and distribute profits. However, the stock going ex-dividend (and thus opening lower by the dividend amount) is a mechanical adjustment rather than a reflection of the company's intrinsic value. Therefore, the short-term impact on SSBI's stock price is expected to be neutral.
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