🔴 Rubico is trading 5.5% down in after-hours trading after 50% stock dividend ex-date adjustment

Rubico is trading 5.5% down at $0.62 after-hours on October 6, after a $0.65 regular-session close amid its 50% stock dividend ex-date adjustment.

• The 37.70% regular-session drop coincided with ex-dividend trading; the dividend added 0.50 share per existing share.
• This is an accounting adjustment, not by itself evidence of deteriorating fundamentals.
• Rubico announced closing its third newbuilding MR tanker acquisition, with a seven-year charter and approximately $374.6 million in total potential gross revenue backlog.