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Houston Natural Resources Corporation (OTC:HNRC) could well be the cynosure of all investors’ eyes this morning after its stock went on a remarkable run on Tuesday amidst huge trading volumes. The stock ended up with staggering gains of as much as 214% hitting an intraday high of $0.44 before closing up 168% at $0.375 yesterday on 12.75 times the average 60-day volume.
The total value of the shares traded yesterday soared to more than $2 million. The rush for the stock came about after Houston Natural Resources Corporation announced that its corporate action with regard to paying a dividend had been reviewed and completed by FINRA.
The corporate action regarding the payment of dividend for its spinoff company had been published by FINRA in the daily list back on April 24, 2023. The date of record for the dividend is April 28, 2023. Hence, all investors who buy the Houston Natural Resources Corporation (OTC: HNRC) stock through Friday, April 28, 2023 close of business, are going to be eligible for the dividend.
The payment date for the dividend had been set for May 26, 2023. All shareholders on record as on April 28, 2023, are going to be awarded a solitary share in the spun-off company Worldwide Diversified Holdings for each block of two shares they held in Houston Natural Resources Corporation. It should be noted that the trading of the Worldwide Diversified Holdings shares would only begin following a registration statement with the United States Securities and Exchange Commission.
The news had come as the trigger for the rush in the Houston Natural Resources Corporation stock yesterday. At one point on Tuesday, it had soared to $0.44 a share, which reflected gains of as much as 214% intraday. Eventually, the stock closed with gains of 168.48% for the day. It may be a good time to keep an eye on the stock today.