Monday Is Your Last Chance To Buy Orchid Island Cap Before The Dividend Payout
Portfolio Pulse from Benzinga Insights
Orchid Island Cap (NYSE:ORC) announced a monthly dividend of 12 cents per share, with the ex-dividend date set for Tuesday. Shareholders owning ORC by the end of Monday are eligible for the dividend, payable on March 26, 2024. The stock is expected to open 12 cents lower on the ex-dividend date.
February 22, 2024 | 2:45 pm
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Orchid Island Cap announced a 12 cents per share monthly dividend, with shares expected to open lower by the same 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 and is directly related to the dividend payout.
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