Protective Capital Structures Corp. Declares Dividend
WILMINGTON, DE, Dec 17, 2008 (MARKET WIRE via COMTEX) -- Protective Capital Structures Corp. (PINKSHEETS: PCSO) (the Company) announced today that its Board of Directors declared a one-time special dividend in the amount of $4.8 million in the form of preferred stock. This represents a price of $0.0002 per common share or 2 (two) times the price quoted on December 10, 2008, to shareholders of record as of that date. The dividend payment date is January 30, 2009.
As previously stated in the December 11, 2008 press release, the Board approved a dividend based on year end 2008 results. This dividend will be paid in preferred stock, which will have an annual coupon of 2.5%, to be paid in stock or cash, at the Company's option.
For Example: If shareholders owned 20 million shares of common stock valued at $2,000 on December 10th, regardless of whether or not they still own that stock, they will receive 4,000 shares of preferred privately valued dollar-for-dollar at $4,000 (or $.0002 on 20 million shares). Today, this is not stock to be immediately bought and sold the same way our common stock is; but it does provide an annual dividend of 2.5% on the preferred stock. Note, this preferred is not based on the price of the Company's common stock at any given time, it is a separate offering of stock.
The Company has the right to call the preferred with common stock or cash at any time. The Company also plans to file to have the preferred listed on the OTC / Pink Sheets where it is expected to be quoted in the public market under a separate stock symbol, during the first quarter.
About Protective Capital Structures Corp.
The PCSO business model, which is implemented through its subsidiary, Independent Capital Credit Corporation, is to arrange financing for real property and commercial revenue producing assets and structure finance.
Safe Harbor
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the Company's behalf. All statements, other than statements of historical facts which address the Company's expectations of sources of capital or which express the Company's expectation for the future with respect to financial performance or operating strategies, can be identified as forward-looking statements. Such statements made by the Company are based on knowledge of the environment in which it operates, but because of the factors previously listed, as well as other factors beyond the control of the Company, which include the ability of the Company to implement its business plans and expand its business model, actual results may differ materially from the expectations expressed in the forward-looking statements.
Contact:
Richard Razzeca
VP
Email: info@protectivecapitalstructurescorp.com
