National Beverage Stock Jumps Over 10% After Declaring $3.25 Special Dividend
FIZZ is trading near its 52-week low of $30.75 (14% above the low).
Summary
National Beverage Corp. announced a significant special cash dividend of $3.25 per share, leading to a stock jump of over 10%. This substantial payout, representing approximately 9.2% of the current share price, follows the company's 10-K filing and news release yesterday. It marks the 13th special dividend in 22 years, signaling a strong return of capital to shareholders. The market's positive reaction comes despite a reported 1.7% decline in sales and earnings for the latest fiscal year and an existing 'Sell' rating from a covering analyst.
At the time of this announcement, FIZZ was trading at $35.07 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $30.75 to $47.89. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.