Franklin Electric's Ex-Dividend Date Is Wednesday, Here's What You Need To Know

Tuesday marks the last chance for investors to receive the next dividend payout from Franklin Electric FELE.

What's Happening

The company announced on Monday that it would pay shareholders a quarterly dividend of 22.5 cents per share. On Wednesday, Franklin Electric will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 22.5 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 FELE as of the end of Tuesday's session are eligible to receive the 22.5 cents dividend payout for every share that they own.

According to the company, this dividend will be paid out to shareholders on August 17, 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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