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Ahead of the Bell: Enzon Pharmaceuticals

NEW YORK (AP) -- Shares of Enzon Pharmaceuticals Inc. jumped 18 percent before Friday's opening bell, after the biotechnology company's board declared a special dividend of $2.

The Piscataway, N.J.-based company said late Thursday that the dividend will be paid on Dec. 21 to shareholders of record as of Dec. 10.

Board Chairman Alex Denner said the special dividend is another step in returning value to Enzon shareholders in addition to its ongoing stock buyback program.

Enzon shares rose $1.14, or 18 percent, to $7.60 in premarket trading.