Nordstrom made investors happy late last week, apparently.
The company's stock price and its trading volume is the proof - since Nordstrom's tock climbed on Friday after announcing that it will pay a special dividend and spend up to $1 billion buying its own shares.
The department-store chains stock gained $3.69, or 5 percent, to $75.12. Also revealing is Nordstrom's trading volume: 2,202,676 shares were traded during the session, an increase of 78% from the previous days volume of 1,237,319 shares.
Nordstrom's investors will be paid this special dividend of $4.85 per share on October 27, 2015. It will be paid to investors of record as of October 12, 2015, with an ex-dividend date of October 7, 2015.
The company's stock 52-week high is $83.16.
Nordstrom, Inc., according to the company's profile, is a fashion specialty retailer in the United States. The company operates through two segments: Retail and Credit. The Retail segment includes approximately 115 Nordstrom branded full-line stores in the United States and Nordstrom.com, approximately 167 off-price Nordstrom Rack stores, two Canada full-line stores, Nordstromrack.com and HauteLook, and other retail channels, including five Trunk Club showrooms and TrunkClub.com, its two Jeffrey boutiques and one clearance store that operates under the name Last Chance.