By Josh Beckerman
GDEV shares rose 38% to $19.72 as the gaming and entertainment company declared a one-time special dividend of $3.31 per share.
The stock is about breaking even year to date.
GDEV said the dividend, totaling about $60 million, will be funded from accumulated profits over the past few years.
"By distributing a portion of its retained earnings, GDEV better optimizes its capital structure, reducing excess liquidity and providing for a more lean and efficient operating model," the company said Friday.
"It is not anticipated that the GDEV's Board of Directors will declare any further dividends in the foreseeable future," the company added.
Following this distribution, GDEV will remain debt-free with a substantial cash balance, the company said.
The dividend is payable March 11 to shareholders of record March 3.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
February 21, 2025 13:02 ET (18:02 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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