Tuesday marks the last chance for investors to receive the next dividend payout from Tortoise Power & Energy (NYSE:TPZ).
What's Happening
The company announced on Monday that it would pay shareholders a monthly dividend of 105 cents per share. On Wednesday, Tortoise Power & Energy will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 105 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, Wednesday. Shareholders who own TPZ as of the end of Tuesday's session are eligible to receive the 105 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.
Click here to find details on Tortoise Power & Energy's previous dividends.
To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.
