Acorn Stock Soars 8% on Quarterly Dividend
Acorn's board of directors has approved a 25-cent dividend to be paid by the end of this month.
Shares in Acorn International Inc. (NYSE: ATV) jumped nearly 8 percent, to $18.75 apiece, after the company announced a cash dividend of 25 cents per American depositary share for the second quarter.
The marketing and branding company, based in Shanghai, said in a statement today that Acorn's shareholders of record as of Sept. 20 will receive a cash payout on Sept. 27.
Acorn plans to release its second quarter earnings on Monday, upon which it will host a conference call.
The call will be led by Jacob Fisch, president and chief executive officer of Acorn, and Martin Key, the acting chief financial officer of the Acorn.