LNG Supplier New Fortress Surges After 3,000% Dividend Boost
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New Fortress Energy Inc. surged the most since March after the liquefied natural gas supplier pledged to return roughly 40% of its annual profits before items such as taxes and interest to shareholders in the form of dividends.
The New York-based developer gained 11% to $50.20 as of 10:10 a.m. in New York. New Fortress, which is poised to report record gains this year amid a global energy crunch, said late Monday that its board approved a new dividend policy that included a payment of $3 per share in January. It’s previous payout was 10 cents.