FIRST TRUST HIGH YIELD's Ex-Dividend Date Is Tuesday, Here's What You Need To Know

Monday marks the last chance for investors to receive the next dividend payout from FIRST TRUST HIGH YIELD FTHY.

What's Happening

The company announced on Thursday that it would pay shareholders a monthly dividend of 13 cents per share. On Tuesday, FIRST TRUST HIGH YIELD will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 13 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 FTHY as of the end of Monday's session are eligible to receive the 13 cents dividend payout for every share that they own.

According to the company, this dividend will be paid out to shareholders on August 25, 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 FIRST TRUST HIGH YIELD on Benzinga.