Friday marks the last chance for investors to receive the next dividend payout from Kennametal (NYSE:KMT).
What’s Happening
The company announced on Tuesday that it would pay shareholders a quarterly dividend of 20 cents per share. On Monday, Kennametal will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 20 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, Monday. Shareholders who own KMT as of the end of Friday’s session are eligible to receive the 20 cents dividend payout for every share that they own.
According to the company, this dividend will be paid out to shareholders on August 22, 2023. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way.
Monitor live stock price updates for Kennametal on Benzinga.
