PDL BioPharma Inc. (NASDAQ: PDLI) shares soared in today�s trading after the company announced that it would begin paying regular quarterly dividends. The stock reached a high of $5.80 in today�s trading and ended the day 14.20% higher at $5.55, with volume up from daily average of 2.52 million to 15.02 million.
PDL shares have a 52-week range of $4.66-$7.30. The stock is currently trading above its 50-day and 200-day moving averages. Year-to-date PDL shares fell 10.91%. In the last one year the stock fell 20.71%.
Earlier today PDL said that it will start paying a regular quarterly dividend of $0.15 per share. Dividend payment dates would be March 15, June 15, September 15 and December 15. The record date would be a week before the dividend payment date. PDL previously paid on special one-time dividends.
PDL also announced that it settled its legal disputes withNovartis AG (NYSE: NVS). As part of the settlement the company will pay Novartis a certain sum of money based on the sale of the drug Lucentis by Novartis.
PDL BioPharma is engaged in the management of antibody humanization patents. It also engaged in the management of royalty assets. The company has licensing arrangements with several pharmaceutical and biotechnology companies. The company was previously known as Protein Design Labs Inc. The company is based in Incline Village, Nevada.
- Want buy and sell signals? Premium newsletter, 15% off annual subscription – sign up today!
- Need fast service and cheap rates from a broker? Click here to see my favorite place to trade PDLI
- Want more? Check out the message board buzz for PDLI
- See which newsletters are recommending this stock pick
- Get breakingnews alerts on this stock:� http://thestockmarketwatch.com/
No comments:
Post a Comment