WWE News: Vince McMahon announces a lower dividend on WWE stock

WWE issued a press release on Thursday to announce that revised dividend policy that cuts the dividend to $0.12 per share. Previously, shareholders had been receiving $0.36 per share. "Our Board of Directors has determined that an adjustment to the current dividend is both prudent and appropriate," Vince McMahon stated in a press release.

"We believe this change strikes the right balance between returning capital to shareholders and investing in our future. We are confident that WWE is ideally positioned to create long term value for our shareholders." To read the official press release, visit Corporate.wwe.com.

Powell's POV: It will be interesting to see whether this has an adverse effect on WWE stock tomorrow and in the days ahead. Thanks to Dot Net reader Joe Petrow and Devin Cutting for passing along the press release details.