Magellan Midstream's Ex-Dividend Date Is Friday, Here's What You Need To Know

Thursday marks the last chance for investors to receive the next dividend payout from Magellan Midstream MMP.

What's Happening

The company announced on Thursday that it would pay shareholders a quarterly dividend of $1.0475 per share. On Friday, Magellan Midstream will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open $1.0475 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, Friday. Shareholders who own MMP as of the end of Thursday's session are eligible to receive the $1.0475 dividend payout for every share that they own.

According to the company, this dividend will be paid out to shareholders on August 14, 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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