Monday marks the last chance for investors to receive the next dividend payout from Mfs High Inc Municipal (NYSE:CXE).
The company announced on Wednesday that it would pay shareholders a monthly dividend of 16 cents per share. On Tuesday, Mfs High Inc Municipal will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 16 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 CXE as of the end of Monday's session are eligible to receive the 16 cents dividend payout for every share that they own.
According to the company, this dividend will be paid out to shareholders on June 30, 2022. Investors will then be able to either reinvest those dividends back into the stock or use the payment in some other way.
CLICK HERE to find details on Mfs High Inc Municipal's previous dividends.
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