The company declared a dividend of 12 cents a share for all shares of Class A and Class B common stock. The record for the dividend is June 13 and the payment date is June 25.
The stock was down 9.77% to $20.04 at 3:25 p.m. More than 1.7 million shares had changed hands, which surpassed the average volume of 1,576,100.
Separately, TheStreet Ratings team rates WORLD WRESTLING ENTMT INC as a "hold" with a ratings score of C+. TheStreet Ratings Team has this to say about their recommendation:
"We rate WORLD WRESTLING ENTMT INC (WWE) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity."
Highlights from the analysis by TheStreet Ratings Team goes as follows: