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PDL BioPharma declares special dividend
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INCLINE VILLAGE, Nev. - Biotechnology company PDL BioPharma Inc. said Thursday it will pay a special dividend to shareholders that totals $200 million.
The per share amount won't be announced until the day after the record date of Dec. 1. The dividend will be paid Dec. 15.
The company said it is using part of the $300 million in proceeds it received from a securitization deal that closed Nov. 2.
Shares of PDL rose 35 cents, or 4.3 percent, to $8.22 in after-hours trading following the dividend announcement. In the regular session, the stock fell 8 cents to close at $8.20.
Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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