Wednesday marks the last chance for investors to receive the next dividend payout from Permian Basin Royalty (NYSE:PBT).
What's Happening
The company announced on Tuesday that it would pay shareholders a monthly dividend of 16.4 per share. On Thursday, Permian Basin Royalty will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 16.4 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, Thursday. Shareholders who own PBT as of the end of Wednesday's session are eligible to receive the 16.4 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.
Click here to find details on Permian Basin Royalty's previous dividends.
To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.