Tuesday Is Your Last Chance To Buy PennantPark Floating Rate Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
PennantPark Floating Rate (NYSE:PFLT) announced a monthly dividend of 10.25 cents per share, with Tuesday being the last day for investors to buy the stock and be eligible for the dividend. The stock will go ex-dividend on Wednesday, likely opening 10.25 cents lower. The dividend payout is scheduled for March 01, 2024.
February 09, 2024 | 2:45 pm
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PennantPark Floating Rate announces a monthly dividend of 10.25 cents per share, with an ex-dividend date set for Wednesday. The stock is expected to open lower by the dividend amount on the ex-dividend date.
The announcement of a dividend payout typically increases interest in a stock pre-ex-dividend date, potentially boosting its price. However, the stock is expected to open lower on the ex-dividend date by the amount of the dividend, reflecting the payout adjustment. This short-term price adjustment is a common occurrence following the ex-dividend date.
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