Sept 20 Communications equipment provider
Sycamore Networks said its board approved a special
cash distribution of $10 per common share.
The company, which has cash and investments of $439.4
million, will distribute nearly $300 million to shareholders. It
has about 28.9 mln shares outstanding, according to Thomson
Sycamore will distribute the cash on Oct. 11 to stockholders
of record as of Oct. 1.
Sycamore, which counts Verizon Communications and
Sprint Nextel among its customers, also reported
fourth-quarter revenue of $16.8 million, up from $13 million a
Shares of the Chelmsford, Massachusetts-based company, which
has a market value of $431.2 million, closed at $14.66 on the
Nasdaq on Wednesday.