Special dividend,no share amount stated in the PR
CHATSWORTH, Calif., Oct 20, 2011 (BUSINESS WIRE) -- The Board of MRV Communications, Inc. MRVC -2.29% announced today that it will distribute $75 million via a special dividend on November 1, 2011 to stockholders of record as of October 20, 2011.
Additionally, to ensure MRV option holders are not adversely impacted by the dividend, the Board has approved a staggered cash payment to option holders equal to the loss in fair value of their options attributable to the dividend. The first installment of this payment will be paid out immediately following the special dividend, and a more substantial final installment (conditioned upon continuous service to MRV) will be paid out twelve months following.
The Board also disclosed that it had been advised by Houlihan Lokey in connection with an analysis of the feasibility of the cash dividend. Houlihan Lokey has also been engaged to advise the Board in connection with the Company's strategic and capital allocation alternatives. There can be no assurances that any additional action will result from this strategic review.
Why didn`t I sell at a profit
