Tortoise Pipeline'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 Tortoise Pipeline (NYSE:TTP).

What's Happening

The company announced on Thursday that it would pay shareholders a quarterly dividend of 59 cents per share. On Friday, Tortoise Pipeline will go ex-dividend, meaning the stock will trade lower to reflect that payout. In other words, the stock will likely open 59 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, Friday. Shareholders who own TTP as of the end of Thursday's session are eligible to receive the 59 cents dividend payout for every share that they own.

According to the company, this dividend will be paid out to shareholders on February 28, 2023. 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 Tortoise Pipeline's previous dividends.

To keep track of which companies are distributing dividends, click here to visit our Dividends Calendar.