You may have heard about Gamestop’s recent $100-million stock market valuation.
But the company may have a lot more cash in its pockets, as it has a $500 million cash infusion in the works, the Wall Street Journal reports.
The move comes as Gamestops shares are soaring thanks to a recent acquisition from American Express.
The company recently raised its dividend by 20% to $1.50 per share.
The increase comes as a result of the company’s efforts to focus on mobile gaming, with the acquisition of its game platform, Gamestore.
It is also boosting its gaming software business, which will see Gamestores newest product, the Gamestory app, introduced later this year.
In addition to the recent deal, Gameworks recently reported its third quarter earnings, and its stock price has soared since the announcement.
Gamestos stock price was $8.49 on Wednesday.
Gameworks shares closed Wednesday at $12.70.