Genco Shipping & Trading's Ex-Dividend Date Is Tuesday, Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Genco Shipping & Trading (NYSE:GNK) announced a quarterly dividend of 41 cents per share, with the ex-dividend date set for Tuesday. Shareholders owning GNK stock by the end of Monday are eligible for the dividend, payable on March 13, 2024. The stock is expected to open 41 cents lower on the ex-dividend date.
February 29, 2024 | 2:45 pm
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Genco Shipping & Trading announces a quarterly dividend of 41 cents per share, with an ex-dividend date this Tuesday. Eligible shareholders must own the stock by Monday. Dividend payable on March 13, 2024.
The announcement of a dividend payout typically leads to a short-term decrease in the stock price equal to the dividend amount on the ex-dividend date, as the stock price adjusts to reflect the payout. In this case, GNK is expected to open 41 cents lower on the ex-dividend date, indicating a short-term negative impact on the stock price.
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