Magyar Bancorp: Dividend Insights
Portfolio Pulse from Benzinga Insights
Magyar Bancorp (NASDAQ:MGYR) announced a quarterly dividend of 5 cents per share, with the ex-dividend date set for Wednesday. Shareholders owning the stock by the end of Tuesday are eligible for the payout on February 22, 2024. The stock is expected to open 5 cents lower on the ex-dividend date.
February 02, 2024 | 2:45 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Magyar Bancorp announced a quarterly dividend of 5 cents per share, with an ex-dividend date this Wednesday. Eligible shareholders will receive the payout on February 22, 2024.
The announcement of a dividend payout typically has a positive impact on investor sentiment towards a stock. However, the stock is expected to open lower on the ex-dividend date to reflect the dividend payout, which is a common occurrence. This short-term price adjustment is likely to be negative, hence the score of -1.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100