Cathay General's Ex-Dividend Date Is Tuesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Cathay General (NASDAQ:CATY) announced a quarterly dividend of 34 cents per share, going ex-dividend on Tuesday. Shareholders owning CATY by the end of Monday are eligible for the dividend, payable on March 11, 2024. The stock is expected to open 34 cents lower on Tuesday.
February 22, 2024 | 2:45 pm
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Cathay General announces a quarterly dividend of 34 cents per share, with the ex-dividend date set for Tuesday. The stock is expected to open lower by the dividend amount.
The announcement of a dividend payout typically leads to a short-term decrease in the stock price equal to the dividend amount, as the ex-dividend date approaches. This is a common market reaction as the stock price adjusts to reflect the payout. Since CATY is going ex-dividend on Tuesday, it is expected to open 34 cents lower, directly impacting its short-term stock price.
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