Key Developments: Cabot Microelectronics Corp (CCMP.O)
34.20USD
14 Jun 2013
$-0.28 (-0.81%)
$34.48
$34.43
$34.43
$33.95
36,298
101,241
$37.80
$27.69
Latest Key Developments (Source: Significant Developments)
SEMATECH And Cabot Microelectronics Corp Collaborate To Accelerate Chemical Mechanical Planarization Technology For Future Devices
SEMATECH and Cabot Microelectronics Corp announced that it has joined its Front End Processes (FEP) program and will collaborate with SEMATECH to develop advanced solutions for emerging CMP applications. Full Article
Cabot Microelectronics Corporation Declares Special Cash Dividend Of $15 Per Share, Or Approximately $345 Million in Total, After Closing On Secured Credit Facility
Cabot Microelectronics Corporation announced that its Board of Directors has declared a special cash dividend of $15 per share, or approximately $345 million in total, payable to shareholders of record on February 23, 2012, that will be paid on March 1, 2012. Approximately half of the special cash dividend, along with related fees, will be funded from the Company’s available cash balance, and the remainder will be funded from a new five-year secured credit facility, which the Company executed today. Under the terms of the new secured credit facility, the Company has arranged a $175 million term loan facility that will be fully drawn to pay the special cash dividend, and a $100 million revolving credit facility, which the Company expects to be initially undrawn At $15 per share, the special cash dividend represents approximately 30% of the Company's closing stock price today. Pursuant to the rules of the Nasdaq stock market, when a dividend is declared in an amount that exceeds 25% of a Company’s stock price, Nasdaq must determine the date on which that company’s shares will begin to trade without the dividend, or ex-dividend. Applying this rule to the Company's declaration of its special cash dividend, Nasdaq has advised the Company that the ex-dividend date has been set as March 2, 2012, which is the first business day following the payable date for the special cash dividend. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
