DouYu International Holdings Limited (NASDAQ:DOYU) shares are trading higher Wednesday after the company announced its board of directors has approved and declared a special cash dividend.

The Details:

DouYu approved and declared a special cash dividend of $9.76 per share to holders of record as of the close of business on August 21, 2024. The aggregate amount of cash dividends to be paid will be approximately $300 million, with payments expected to be made on or around August 30, 2024.

"We remain dedicated to protecting shareholders' interests despite the challenging macroeconomic and operating environment that we continue to face. Primarily due to the Company's current cash position, our Board of Directors has approved a special cash dividend of approximately US$300 million as part of our ongoing effort to return value to our shareholders," commented the interim management committee of DouYu.

DouYu International Holdings is a game-centric live streaming platform in China and operates its platform on both PC and mobile apps.

How To Buy DOYU Stock:

By now you're likely curious about how to participate in the market for DouYu International Holdings – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy 'fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of DouYu, which is trading at $12.59 as of publishing time, $100 would buy you 7.94 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to 'go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

DOYU Price Action: According to Benzinga Pro, DouYu International shares are up 30% at $16.35 at the time of publication Wednesday.

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