Earnings are No. 1 driver of markets: Eric Freedman
U.S. Bank Wealth Management CIO Eric Freedman on what he thinks are driving today’s markets.
Dick’s Sporting Goods Inc. shares soared after the company announced plans to reward investors with a special dividend after the company extended its run of record-setting quarters.
The Coraopolis, Pennsylvania-based sporting goods retailer’s board of directors authorized a one-time special payment of $5.50 per share, returning over $475 million to shareholders. The board also hiked the quarterly dividend by 21% to 43.75 cents per share.
|DKS||DICK’S SPORTING GOODS, INC.||132.68||+18.05||+15.74%|
Investors responded positively to the news, driving shares up by as much as 18% on Tuesday to an all-time intraday high of $134.80. At Tuesday’s high, the stock had gained 140% this year and was 699% above its March 2020 low of $16.87.