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Argan Stock Surges on Dividend Hike Amid Construction Sector Strength
Argan Stock Surges on Dividend Hike Amid Construction Sector Strength
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BTCCSquare news:
Argan (AGX) shares jumped nearly 4% Wednesday after announcing a 33% dividend increase to $0.50 per share, far outpacing the S&P 500's 0.3% gain. The specialty construction firm's aggressive payout boost reflects confidence in its electrification-focused business model, with CEO David Watson citing "the ongoing electrification of everything" as a key growth driver.
This marks Argan's third consecutive annual dividend raise, though last week's Q2 earnings revealed underlying challenges beneath surface-level results. The company now yields just under 1% at current prices, with the enhanced distribution payable October 31 to shareholders of record October 23.
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