Shares of telecom giant T-Mobile US (NASDAQ: TMUS) were on the rise Thursday, appreciating as much as 4.3%, before pulling back to a 3.3% gain as of 1:30 p.m. ET, even on an otherwise difficult day for the S 500 and Nasdaq Composite.
T-Mobile announced yesterday at an industry conference that it would begin paying a dividend, which will start in the fourth quarter.
While investors actually sold off T-Mobile yesterday on some of the details surrounding that choice, it appears they are more enthusiastic today when reflecting on the conference. Moreover, there are certain dividend-based funds that couldn't own T-Mobile before, but now can. So, they may also be buying the stock today.
Source Fool.com