Published on November 13, 2009 at 3:31 AM
PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) today announced that it will pay a $200 million special dividend to stockholders, with part of the proceeds from the $300 million securitization transaction completed on November 2, 2009.
All stockholders owning shares of PDL on December 1, 2009 will be paid a special dividend on December 15, 2009. As PDL has a significant amount of convertible securities outstanding, the amount of the dividend on a per share basis will be announced the day after the record date. The remaining net proceeds of $85 million will be used for working capital and other corporate purposes.
SOURCE PDL BioPharma, Inc.
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Tags: Antibody, Cancer