Monday marks the last chance for investors to receive the next dividend payout from Mfs High Yield Municipal (NYSE:CMU).
What’s Happening
The company announced on Monday that it would pay shareholders a monthly dividend of 1.05 cents per share. On Tuesday, Mfs High Yield Municipal will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 1.05 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, Tuesday. Shareholders who own CMU as of the end of Monday’s session are eligible to receive the 1.05 cents dividend payout for every share that they own.
According to the company, this dividend will be paid out to shareholders on July 31, 2023. 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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