Why Is MBIA (MBI) stock Stock Up 65% Today?
- MBIA (MBI) stock is rocketing higher on an extraordinary cash dividend.
- The company is paying $8 per share to shareholders on Dec. 22.
- Shareholders need to be on record as of Dec. 18 to get this dividend.
- The company is paying $8 per share to shareholders on Dec. 22.
- Shareholders need to be on record as of Dec. 18 to get this dividend.
MBIA ( $MBIA(MBI.US$ ) stock is taking off on Friday after the financial insurance company announced an extraordinary cash dividend for investors.
MBIA will be paying a dividend of $8 per share to shareholders on Dec. 22. Investors in MBI stock will have to be on record as of Dec. 18 to receive this dividend. MBIA notes that this totals $409 million based on its 51.1 million shares outstanding.
MBIA is paying out this dividend to investors after receiving a $550 million extraordinary dividend from its wholly-owned subsidiary National Public Finance Guarantee Corporation. It was also paid another dividend by the subsidiary of $97.245 million.
MBIA also explains what will have to the other money from that dividend. The company intends to use it for general corporate purposes. It notes this may include operating expenses and debt service obligations.
MBIA will be paying a dividend of $8 per share to shareholders on Dec. 22. Investors in MBI stock will have to be on record as of Dec. 18 to receive this dividend. MBIA notes that this totals $409 million based on its 51.1 million shares outstanding.
MBIA is paying out this dividend to investors after receiving a $550 million extraordinary dividend from its wholly-owned subsidiary National Public Finance Guarantee Corporation. It was also paid another dividend by the subsidiary of $97.245 million.
MBIA also explains what will have to the other money from that dividend. The company intends to use it for general corporate purposes. It notes this may include operating expenses and debt service obligations.
MBIA Stock Movement on Friday
MBIA stock is seeing heavy trading on Friday following its dividend announcement. That has more than 756,000 shares of the stock changing hands as of this writing. That’s already well above its daily average trading volume of about 371,000 shares.
MBIA stock is up 69% as of Friday morning.
MBIA stock is up 69% as of Friday morning.
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182067967 : Can I get dividends even if I sell shares on December 19?