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Why VeriSign Stock Soared Friday

TheMotleyFool

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Why VeriSign Stock Soared Friday: https://g.foolcdn.com/editorial/images/816093/computer-programming-bits.jpg

VeriSign (NASDAQ: VRSN) shares took off Friday morning after the company released first-quarter earnings and declared a dividend for the first time. Its solid results also allowed the company to raise revenue guidance for the full year.

Investors jumped into what has been one of the big stock market winners so far this year. Shares jumped 9.3% higher as of 11:35 a.m. ET, giving the stock a gain of 33% year to date.

The initiation of a quarterly cash dividend surely made shareholders happy, too. That group of investors includes Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B).

Source Fool.com