IDT Corporation Declares Special Dividend of $0.64
December 15 2014 - 5:30PM
Business Wire
The Board of Directors of IDT Corporation (NYSE:IDT) today
declared a special dividend of $0.64 per share of Class A and Class
B common stock.
“IDT has declared a special dividend of $0.64 today in
recognition of our liquid balance sheet following the sale of our
stake in Fabrix Systems in October and anticipated capital
requirements,” said IDT’s Chief Executive Officer, Shmuel Jonas.
“Today’s announcement follows a $0.68 special dividend paid by the
company in November. We are fortunate to be well positioned to
return proceeds from the Fabrix sale to our stockholders even as we
continue to invest in long term growth initiatives in our core
telecommunications and payments business.”
As of October 31, 2014, IDT reported $183.3 million in
unrestricted cash, cash equivalents and marketable securities and
no long term debt.
The special dividend declared today will be paid on or about
January 23, 2015 to stockholders of record as of the close of
business on January 15, 2015. The ex-dividend date will be January
13, 2015.
The distribution will be treated as a return of capital for tax
purposes.
About IDT Corporation:
IDT Corporation (NYSE:IDT), through its IDT Telecom division,
provides retail telecommunications and payment services to help
immigrants and the under-banked communicate and share resources
around the world. IDT Telecom’s wholesale business is a leading
global carrier of international long distance calls. IDT also holds
a majority interest in Zedge (www.zedge.net), developer of the
popular eponymous app for a mobile content discovery and
acquisition. For more information on IDT, visit www.idt.net.
Investor RelationsIDT CorporationBill Ulrey,
973-438-3838invest@idt.net
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