Stocks Close Lower After Turbulent Trading Session
WBD Stock Drops Sharply
WEB Las acciones terminaron una sesión de negociación turbulenta con una nota sombría ya que los Discoverys WBD stock sank another 14% in mid-afternoon trading on Friday after the company announced it was cutting its quarterly dividend by 50%.
Dividend Cut Weighs on WBD Stock
The dividend cut, which was announced after the market closed on Thursday, came as a surprise to investors, who had been expecting the company to maintain its dividend payout.
The cut is part of a broader cost-cutting plan that WBD is implementing in an effort to improve its financial performance. The company has been struggling with declining subscriber numbers and increasing competition from streaming rivals.
The dividend cut sent WBD stock tumbling in pre-market trading on Friday. The stock continued to decline in regular trading, closing down 14% at $12.10.
The dividend cut is a major blow to WBD investors, who had been counting on the dividend income to help them offset the company's declining stock price.
It remains to be seen how the dividend cut will impact WBD's long-term prospects. However, the move is likely to weigh on the stock in the near term.
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