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Valeant Pharmaceuticals International declares special $1 dividend
By The Associated Press

(AP) - Valeant Pharmaceuticals International Inc. said Thursday its board of directors declared a special dividend of $1 per share.

The dividend is payable Nov. 15 to shareholders of record as of Dec. 22.

The board declared the special dividend in connection with the September consummation of Valeant with Canada's .Biovail Corp. After the payment, the company said it does not expect to pay dividends.

Also, the board approved the establishment of a special dividend reinvestment plan, which will enable eligible shareholders to elect to reinvest the special dividend.