It was a rough night for WWE shareholders as the stock price plummeted after the market closed on Thursday.
WWE stock closed at $62.31 on 4 p.m. ET on Thursday, up from the $61.07 the stock opened with at 9:30 a.m. ET on Thursday.
Shortly after the market closed on Thursday, news broke that WWE Co-Presidents George Barrios and Michelle Wilson had departed the company, effective immediately. A change of that magnitude brought heavy ramifications as the stock dropped down to $58.00 by 4:40 p.m. ET. By 5:15 p.m. ET, it was down to $49.00. The lowest point came at 6:55 p.m. ET when the stock dropped to $47.70, marking a 23.44% drop in less than three hours.
When the market opened at 9:30 p.m. ET on Friday, WWE stock was at $45.32, a 27.28% drop from what it was when the market closed on Thursday afternoon. It's the lowest the stock has been since May 11, 2018 when it was at $43.51.
In other WWE financial news, the company did declare its quarterly dividend.
WWE Declares Quarterly Dividend
WWE (NYSE: WWE) announced that its Board of Directors today declared the Company’s regular quarterly dividend of $0.12 per share for all Class A and B shares of common stock. The record date for the dividend will be March 13, 2020 and the payment date will be March 25, 2020.
WWE is set to report its 2019 Fourth Quarter earnings on February 6, 2020.