Why Tredegar Stock Is Soaring Today

Shares of Tredegar Corporation (NYSE: TG) rocketed more than 28% by 10:30 a.m. EST on Wednesday. Powering the industrial manufacturer's rally was its decision to pay a special dividend.    

Tredegar Corporation declared a special dividend of $200 million, or $5.97 per share. The distribution is payable on Dec. 18 to shareholders at the close of business on Dec. 11. The dividend is in addition to its regular quarterly dividend of $0.12 per share, which has the same record date but isn't payable until Jan. 1.

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Source Fool.com