Market Overview

IDT Corporation Announces Special Dividend and Suspension of Quarterly Dividends for FY 2013

The Board of Directors of IDT Corporation (NYSE: IDT) today decided to
pay a special dividend of $0.60 per share to holders of its Class A and
Class B common stock. IDT has also suspended payment of its regular
$0.15 quarterly dividends for its 2013 fiscal year, the twelve months
ending July 31, 2013.

The special dividend will be paid on or about November 13, 2012 to
stockholders of record of as of the close of business on November 5,
2012. The ex-dividend date will be November 1, 2012. For tax purposes,
the $0.60 per share payment will be treated as a return of capital and
not as a dividend. Payments classified as returns of capital generally
reduce the basis in

See full press release

Posted-In: News Guidance Asset Sales Management Global

 

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