Movado Group Inc. (MOV: Quote) reported fourth quarter adjusted net income of $0.24 Thursday morning, up from $0.06 in the prior year period. The company also announced that its Board of Directors approved payment of a special cash dividend of $0.50 per share.
Movado Group gapped open higher Thursday and climbed in early trade, before settling into a narrow range. Shares finished up by 2.16 at $24.43, with volume at a 2 1/2 month high. The stock has been on an upward trend for the past month and a half and set a new high for the year.
by RTT Staff Writer
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