Aware Declares Special Cash Dividend of $1.80 Per Share, or Approximately $40M in Total
Aware (NASDAQ: AWRE), a leading supplier of biometrics software and DSL service assurance products, today announced that its Board of Directors has declared a special cash dividend of $1.80 per share, or approximately $40 million in total. The special cash dividend will be paid on December 17, 2012 to shareholders of record as of December 3, 2012.
The Board of Directors has determined that the company's current cash balances exceed our capital requirements and has decided to return cash to shareholders.
The tax treatment of the special cash dividend will depend on the amount of the company's current and accumulated earnings and profits as of December 31, 2012, as determined by the Internal Revenue Code. Based on our year-to-date earnings through September 30, 2012, we believe that this $1.80 special cash dividend and the $1.15 special cash dividend we paid in May 2012 will be treated as qualified dividends for income tax purposes.
We encourage shareholders to contact their brokers in order to understand the Nasdaq Rules and Regulations regarding the effect of selling shares of our common stock following the record date on their eligibility to receive the dividend.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.