Questcor Pharmaceuticals Accelerates Cash Dividend; Payment Date Set for December 21, 2012

Questcor Pharmaceuticals

today announced that its Board of Directors has declared a quarterly cash dividend of $0.20 per share to all shareholders of record at the close of business on December 14, 2012. The dividend will be paid in lieu of the Company's regular quarterly cash dividend that would have been paid in the first quarter of 2013, and is scheduled to be paid on or about December 21, 2012. The Company accelerated payment of the first quarter 2013 dividend to allow its shareholders to benefit from the current dividend tax rate that is scheduled to expire on December 31, 2012. Future dividends will be at the discretion of the Board of Directors. "Our business continues to grow and this dividend reflects our positive outlook and confidence in our ability to continue to generate returns for shareholders and invest in future growth through R&D," said Don M. Bailey, President and CEO of Questcor.