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Bogen Board Declares Cash Dividend; Shareholders Approve Bogen Corporation Spin-off
By: Business Wire
Dec. 6, 2012 06:05 PM
Today, the Bogen Communications International, Inc. (Pink Sheets: BOGN.PK) (“Bogen”), Board of Directors declared a special cash dividend of $0.55 per common share, payable on December 20, 2012, to shareholders of record on December 11, 2012, subject to bank approval. If bank approval is not received, some or all of the dividend may not be paid. It is anticipated that approximately $0.06 to $0.08 of the dividend will qualify as an ordinary dividend and the remainder as return of capital or capital gain depending on shareholder basis. The allocation noted above is subject to change upon completion of the financial statements of the Company. Each shareholder is advised to consult with their tax advisor regarding the tax treatment of this dividend.
On November 29, 2012, a special shareholder’s meeting was held and the Spin-off of Bogen Corporation was approved and will move forward. Shareholders of record as of the record date, November 19, 2012, will receive all of the shares of Bogen Corporation common stock on a pro rata basis to the holders of Bogen Communications International, Inc. common stock holding shares as of the record date, November 19, 2012. The distribution of the shares will occur on December 21, 2012. Anyone who purchased Bogen stock after November 19, 2012, will not receive the shares of Bogen Corporation which will be distributed only to the holders of record on November 19, 2012.
Please visit Bogen’s website at www.bogen.com for the complete Consolidated Financial Statements as well as additional information about the Company and its products and services.
Bogen Communications International, Inc., based in Ramsey, New Jersey, and Germering, Germany, develops, manufactures, and markets telecommunications peripherals, sound processing equipment, and Unified Messaging products and services. Bogen’s products are sold to commercial, industrial, professional, and institutional customers worldwide.
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