News about dividend distribution can often lead to a spike in the stock price and the Greenpro Capital Corp (NASDAQ:GRNQ) stock is expected to be in focus among investors considering the fact that the company made such an announcement yesterday.
In this regard, it should be noted that over the course of the past week, the stock has been in the middle of a strong move and managed to record gains of as much as 13%. Yesterday the company announced that Greenpro shareholders of record as on August 31, 2021 are going to be awarded common shares of SEATECH Ventures Corp.
However, in this context, it should also be noted that the company had also announced that the investors would need to be in possession of Greenpro shares up until today in order to get the SEATECH shares. Greenpro holds as many as 10 million shares in SEATECH.
Shareholders in Greenpro are going to be awarded with one Rule 144 restricted common stock in SEATECH for each block of 10 Greenpro shares. The Chief Executive Officer of Greenpro Capital stated that it was an opportunity to reward the long standing shareholders and he went on to add that such dividends are going to be paid out from other companies too.