Key Developments: Bogen Communications International Inc (BOGN.PK)

BOGN.PK on OTC Markets Group

0.62USD
22 Aug 2014
Price Change (% chg)

$-0.23 (-27.06%)
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Latest Key Developments (Source: Significant Developments)

Bogen Communications International Inc Declares Cash Dividend; Shareholders Approve Bogen Corporation Spin-off
Thursday, 6 Dec 2012 06:05pm EST 

Bogen Communications International Inc announced that its 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.  Full Article

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