Generex Biotechnology Corporation (OTC:GNBT) is enjoying positive financial news, on word that the company today declared its previously- announced one-to-one common stock dividend.
The company, based in Miramar, Florida, said the Record Date is set for next Wednesday July 24. The dividend Payment Date will be the first day the Company’s common stock trades on the NASDAQ Capital Market; payment of the dividend is contingent upon the successful up-listing of the Company’s common stock on the NASDAQ Capital Market.
GNBT adds that, if the company is not listed on NASDAQ on or before October 31, the dividend will not be payable without the OK from the board.
The company expects to file its application with NASDAQ shortly; 30 days of process time is what usually happens.
Early Thursday afternoon, GNBT gained 14 cents, or 8%, to $1.89, on volume of more than 90,000 shares