Wednesday marks the last chance for investors to receive the next dividend payout from Signature Bank SBNY.
The company announced on Tuesday that it would pay shareholders a quarterly dividend of 56 per share. On Thursday, Signature Bank will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 56 lower than it would have opened on any other day.
In order to be eligible to receive a company’s dividend, shareholders must own the stock prior to the ex-dividend date—in this case, Thursday. Shareholders who own SBNY as of the end of Wednesday’s session are eligible to receive the 56 dividend payout for every share that they own.
According to the company, this dividend will be paid out to shareholders on August 12, 2022. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way.
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Image and article originally from www.benzinga.com. Read the original article here.