Hello Group's Board Declared a Special Cash Dividend of $0.54/ADS, or $0.27/Share
Portfolio Pulse from Benzinga Newsdesk
Hello Group's board has announced a special cash dividend of $0.54 per ADS or $0.27 per share, totaling approximately $103 million, to be paid on April 30, 2024, to shareholders on record as of April 12, 2024. The ex-dividend date is April 11, 2024, funded by the company's available cash.
March 14, 2024 | 8:40 am
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Hello Group, trading as MOMO, declared a special cash dividend of $0.54 per ADS or $0.27 per share, with a total payout of approximately $103 million, to be paid from available cash.
Special dividends often lead to positive investor sentiment as they are seen as a sign of a company's strong financial health and a commitment to returning value to shareholders. Given the significant amount of the dividend and the clear funding strategy from available cash, this is likely to be viewed positively by the market. However, the impact on the stock price will also depend on broader market conditions and the company's performance leading up to the dividend date.
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IMPORTANCE 90
RELEVANCE 100