The announcement of dividends from a company is almost always seen as a positive by investors and may often lead to a spike in the stock price. However, nothing of the sort happened with the Pinnacle Bacncshares Inc (OTCMKTS:PCLB) stock and it traded within a range after the company made a similar announcement.
Market Action
On Wednesday, PCLB stock ended flat at $40 with 1.5K shares, compared to its average volume of 150 shares. The stock moved within a range of $40.00 – 40.00 after opening trade at $40.
Pinnacle Bancshares Declares $0.25 Per Share Quarterly Cash Dividend
On Wednesday, Pinnacle announced that the members of the Board of Directors at the company had provided the approval to pay out a quarterly cash dividend to the tune of as much as $0.25 a share. It was a significant announcement from the company and one that is likely to be on the minds of investors when they consider the Pinnacle stock.
It was further announced that the dividend is going to be paid out by Pinnacle on March 18, 2022 to all shareholders of record as on March 7, 2022. It is also necessary to point out that the pay-out is actually equal to $1 a share when it is annualised. It is now going to be interesting to see if the stock does get any traction from investors over the course of the coming days and in the lead up to the date of record.
Traders Note
PCLB stock is trading below the 20-Day and 50-Day Moving averages of $40 and $40. Moreover, the stock is trading is the neutral zone with RSI stands at 75.
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