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First Trust MLP's Ex-Dividend Date Is Tuesday, Here's What You Need To Know

Benzinga ·  Jul 27, 2023 22:46

Monday marks the last chance for investors to receive the next dividend payout from First Trust MLP (NYSE:FEI).

What's Happening

The company announced on Thursday that it would pay shareholders a monthly dividend of 5 cents per share. On Tuesday, First Trust MLP will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 5 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 dateâ€"in this case, Tuesday. Shareholders who own FEI as of the end of Monday's session are eligible to receive the 5 cents dividend payout for every share that they own.

According to the company, this dividend will be paid out to shareholders on August 15, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way.

See current stock movements First Trust MLP on Benzinga.

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