AMC Entertainment Share Price Surges Again Following News Of Special APE Dividend
deadline.comThe domestic box office is about to go into a funk for two-and-half months due to the lack of tentpole product, but shares of AMC Entertainment keep on trucking.Following Thursday’s news that the world’s No.
1 exhibitor was awarding APE investors with one AMC preferred Equity share for each AMC Class A common stock, AMC’s stock price jumped 31% on Friday from $16.97 to $22.18.
Well, this morning they jumped again 14%, opening at $24.06 and hitting a high of $27.50. At the time of this post’s publication, AMC shares were trading at $25.02.The preferred Equity stock will be issued to AMC common shareholders on the dividend date of Aug.
19, and be listed on the New York Stock Exchange under the symbol APE.While the notion was that retail investors didn’t want to see any more stock dilution, the APE share maneuver by AMC will give the exhibitor more financial flexibility.
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