Wednesday Is Your Last Chance To Buy Tortoise Power & Energy Before The Dividend Payout

Wednesday marks the last chance for investors to receive the next dividend payout from Tortoise Power & Energy TPZ.

What's Happening

The company announced on Friday that it would pay shareholders a monthly dividend of 10.5 cents per share. On Thursday, Tortoise Power & Energy will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 10.5 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, Thursday. Shareholders who own TPZ as of the end of Wednesday's session are eligible to receive the 10.5 cents dividend payout for every share that they own.

According to the company, this dividend will be paid out to shareholders on March 29, 2024. 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 Tortoise Power & Energy on Benzinga.