Wednesday marks the last chance for investors to receive the next dividend payout from Shore Bancshares SHBI.
The company announced on Wednesday that it would pay shareholders a quarterly dividend of 12 per share. On Thursday, Shore Bancshares will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 12 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 SHBI as of the end of Wednesday's session are eligible to receive the 12 dividend payout for every share that they own.
According to the company, this dividend will be paid out to shareholders on August 31, 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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