Thursday marks the last chance for investors to receive the next dividend payout from McCormick & Co MKC.
What’s Happening
The company announced on Thursday that it would pay shareholders a quarterly dividend of 37 cents per share. On Friday, McCormick & Co will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 37 cents 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, Friday. Shareholders who own MKC as of the end of Thursday’s session are eligible to receive the 37 cents dividend payout for every share that they own.
According to the company, this dividend will be paid out to shareholders on October 25, 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.