Cash dividends can often be a major boost for the shareholders and also for the stock price of a company. Hence, it was not entirely surprising that the Gunther Grant (OTCMKTS:GNGR) soared this past Friday by as much as 43%.
Investors possibly piled on to the stock after an announced from the company with regards to an unpresented event for both the shareholders as well as the company. The company announced that it decided to go ahead with the award of a cash dividend to the tune of as much as $.0000625 per share to all shareholders. That came as a significantly positive trigger for the shareholders and the stock soared.
The dividend that is going to be paid out by the company works out to a return of 3.4% when one takes into consideration the fact that the share price was at $.0018 when Gunther Grant actually filed for the dividend. The company had filed for the dividend back on August 11, 2021. More importantly, it is perhaps important to keep in mind that at this point in time the company is debt free and it also announced that it was not going to issue any more shares through the course of the dividend period.