insane dividends

[wzebra33]

ModusLink Announces Special Cash Dividend

WALTHAM, Mass. -- ModusLink Global Solutions™, Inc. (NASDAQ: MLNK) today announced that its Board of Directors has approved a one-time payment to stockholders through a special dividend in order to return value to ModusLink stockholders.

The special cash dividend of $40 million in aggregate, or $0.9134 per share, will be funded by cash on the Company’s balance sheet. At January 31, 2011, the Company had cash totaling $154.2 million. After the special dividend is paid to stockholders, ModusLink believes it will have sufficient cash on hand to support ongoing business operations and execute its strategy for long-term growth.

“ModusLink is pleased to return value to our stockholders through this substantial special cash dividend,” said Joseph C. Lawler, chairman, president and chief executive officer. “We carefully evaluated our balance sheet, and given ModusLink’s liquidity, the Board unanimously determined that it was appropriate to return a portion of the cash on hand to stockholders. This one-time distribution also reflects the confidence we have in ModusLink and its ability to generate cash flow on a long term basis. ModusLink has a strong history of returning excess cash to our stockholders, and we remain committed to creating value for our stockholders as we continue to build upon our leadership position as a provider of global value chain solutions.”

*

The special dividend is payable on March 31, 2011 to stockholders of record as of March 17, 2011.

Read more: http://www.sunherald.com/2011/03/07/2921995/moduslink-announces-special-cash.html#ixzz1FxJHnO7X