Garmin (GRMN) NewsBite - GRMN Jumps on Dividend Announcement
Posted: Wednesday, March 17, 2010 10:03 AM EDT
By: Market Intelligence Center Staff
Garmin (NASDAQ: GRMN) opened at $35.84. So far today, the stock has hit a low of $35.82 and a high of $36.72. GRMN is now trading at $36.62, up $1.32 (3.74%). Over the last 52 weeks the stock has ranged from a low of $19.07 to a high of $39.65. GRMN announced a one-time doubling of its annual dividend this morning. The company will pay out $1.50 instead of its regular $0.75 payout on April 30 to shareholders as of April 15. Technical indicators for the stock are neutral and S&P gives GRMN a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on GRMN the stock seems like it could be a candidate for a July out-of-the-money bull-put credit spread below the 30 range. [ABR-Seven Summits Strategic Investments NewsBite]
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