On Thursday the Peoples Ltd (OTCMKTS:PPLL) stock did not experience much of a move and traded within a range despite the fact that the company had made a major announcement.
Trading Data
On Wednesday, PPLL stock ended flat at $74.42 with more than 6 shares, compared to its average volume of 4 shares. The stock moved within a range of $74.42 – 74.42 after opening trade at $74.42.
Peoples Ltd. Declares First Quarter Dividend and Implementation of a Dividend Reinvestment and Stock Purchase Plan
The company was in the news cycle yesterday after its Chief Executive Officer and President Anthony J Cabello announced that the members of the board had approved the cash dividend for the first fiscal quarter. The company is going to pay out as much as $0.58 a share and the payment is going to be made by the company on March 31 this year.
The announcement of dividends is almost always a major development for any company and it can often create a buzz about the stock. However, none of that happened with regards to the Peoples Ltd stock. In this context, it is important to point out that the dividend for the first quarter represents a jump of as much as 6.54% from the dividend that was paid out in the corresponding quarter last year.
All those who are going to be shareholders on record as on March 15, 2022 are going to be eligible for the pay out. It now remains to be seen if there is any traction for the stock in the coming weeks.
