DryShips Inc (fka DRYS)

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will initiate a new dividend, paying back $2.5 million to common shareholders on a quarterly basis, starting with shareholders on record as of March 15,2017 . The dividend will likely work out to around $0.07 per share on a quarterly basis.

In November, shares of Dryships went from $38.46 to $584 within a week.

On a reverse split-adjusted basis, DryShips’ 52-week high is $2,227 .