Yippy issues stock dividend

FORT MYERS — Yippy Inc. (symbol: YIPI) will issue a stock dividend to its shareholders, giving each investor additional shares equal to 5% of their holdings as of June 27, a statement says.

“I want to personally thank our shareholders for their continued support,” Yippy CEO Richard Granville says in an official statement. “We felt a stock dividend was an appropriate response to our shareholders' unwavering loyalty.”

Formerly known as Cinnabar Ventures, Yippy is working to develop a family-friendly search engine. The company is not reporting much in the way of revenues, but with more than 23 million shares of its stock in the market priced at $0.68 a share, Yippy is worth nearly $16 million.