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Westwater stock to hit $7 billion as drought continues

Westwater stock to hit $7 billion as drought continues

Westwater will increase its dividend from $1 to $1.25 per share on Tuesday, with the company’s shares soaring to $7.50, according to a report from Bloomberg.

Westwater said it would also increase its share repurchase program to $200 million per month, or about $4 billion. 

“We have seen our share repurchases grow from $250 million in 2011 to $700 million in 2015,” Westwater CEO Jim Dolan said in a statement. 

The stock has gained more than 25% this year, while the S&P 500 has gained a whopping 6.4%. 

The S&amps up in the Dow Jones Industrial Average since the drought began.

Westwater’s shares rose more than 17% after the stock soared to a record close of $7,895.

The stock is up more than 12% in the past 12 months, compared to the Dow’s 11.6% gain over that period.