SIGA Technologies Shares Jump Premarket With Special Dividend

Dow Jones03-12

By Robb M. Stewart

SIGA Technologies' shares were set to jump at the opening bell after the pharmaceutical said it would pay out a special dividend.

In premarket trading, the shares were 8.2% higher at $5.29 after closing Monday at $4.89, down 13% so far in 2024.

The commercial-stage company's board declared a special cash dividend of 60 cents a share, representing an increase 33% over the cash dividend paid in June. The dividend is payable April 11 to shareholders of record at the close of business on March 26.

Diem Nguyen, who joined SIGA as chief executive earlier this year, said the dividend highlights optimism about the company's business prospects.

Siga is scheduled to release financial results for the final quarter of 2023 later Tuesday.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

March 12, 2024 08:06 ET (12:06 GMT)

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