Wednesday marks the last chance for investors to receive the next dividend payout from Franklin Universal Trust (NYSE:FT).
What's Happening
The company announced on Tuesday that it would pay shareholders a monthly dividend of 425 cents per share. On Thursday, Franklin Universal Trust will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 425 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, Thursday. Shareholders who own FT as of the end of Wednesday's session are eligible to receive the 425 cents dividend payout for every share that they own.
According to the company, this dividend will be paid out to shareholders on June 30, 2022. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way.
To stay up-to-date with the companies that are announcing their dividends, click here to visit our Dividends Calendar.
