REV Group Earlier Announced Net Proceeds Will Be Used to Return About $180M Of Cash To Holders In Form Of Special Cash Div At $3.00/Share
Portfolio Pulse from Benzinga Newsdesk
REV Group has announced in an SEC filing that it will use net proceeds to return approximately $180 million to shareholders in the form of a special cash dividend of $3.00 per share.
January 29, 2024 | 1:52 pm
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REV Group plans to distribute a special cash dividend of $3.00 per share, totaling about $180 million to its shareholders.
The announcement of a special dividend is typically seen as a positive signal to shareholders, indicating that the company has excess cash to distribute. This can lead to a short-term increase in stock price as investors may buy shares to capture the dividend. The size of the dividend ($3.00 per share) is substantial, which could make the stock more attractive in the short term and potentially lead to a temporary rise in its price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100