Navigation Links
PDL BioPharma Announces Ex-Dividend Date of November 27 for Special Dividend
Date:11/23/2009

INCLINE VILLAGE, Nev., Nov. 23 /PRNewswire-FirstCall/ -- PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) today announced that NASDAQ has established November 27, 2009 as the ex-dividend date for its $200 million special dividend to stockholders resulting from the securitization transaction completed on November 2, 2009. The dividend will be paid on December 15, 2009 to all stockholders of record on the record date, December 1, 2009. NASDAQ has set the approximate per share amount of the dividend at $1.67 per share of common stock for purposes of the ex-dividend date on November 27, 2009. This approximate per share amount is based on the number of shares of the Company's common stock outstanding on September 30, 2009.

The actual per share amount of the dividend to be paid on December 15, 2009 will depend on the number of shares of the Company's common stock that are outstanding on the record date of December 1, 2009, and will be announced shortly after the record date. Because the holders of the Company's convertible notes have the right to convert into shares of the Company's common stock, and some of these holders may elect to do so prior to or on the record date, it is not possible to calculate the dividend on a per share basis until shortly after the record date.

As of September 30, 2009, the Company had $200 million in principal that remains outstanding under its unsecured 2.75% Convertible Subordinated Notes due August 16, 2023 (the 2023 Notes) and $228 million in principal that remains outstanding under its 2.00% Convertible Senior Notes due February 15, 2012 (the 2012 Notes). The 2023 Notes and 2012 Notes are convertible at any time, at the option of the holder, into shares of the Company's common stock. The conversion rate for the 2023 Notes is $7.63 per share and the conversion rate for the 2012 Notes is $10.59 per share.

About PDL BioPharma

PDL pioneered the humanization of monoclonal antibodies and, by doing so, enabled the discovery of a new generation of targeted treatments for cancer and immunologic diseases. PDL is focused on maximizing the value of its antibody humanization patents and related assets. The Company receives royalties on sales of a number of humanized antibody products marketed today and also may receive royalty payments on additional humanized antibody products launched before patent expiry in late 2014. For more information, please visit www.pdl.com.

NOTE: PDL BioPharma and the PDL BioPharma logo are considered trademarks of PDL BioPharma, Inc.

Forward-looking Statements

The foregoing statements regarding PDL's intentions with respect to the cash special dividend payment described above are forward-looking statements under the Private Securities Litigation Reform Act of 1995, and actual results could vary materially from the statements made. PDL's ability to pay the special dividend described above is subject to various risks, many of which are outside its control, including prevailing conditions in the capital markets, the continued strength of its royalty assets and other risks and uncertainties as detailed from time to time in the reports filed by PDL with the Securities and Exchange Commission.

SOURCE PDL BioPharma, Inc.


'/>"/>
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. PDL BioPharma Announces Special Dividend Payment
2. Helix BioPharma to Present at Merriman Curhan Fords Investor Summit 2009 on November 10th
3. Leaders in Biopharma and Molecular Diagnostics to Discuss Key Issues and Opportunities in Forming Partnerships at 2010 Personalized Medicine Partnerships Conference
4. PDL BioPharma Announces Pricing of $300,000,000 Securitization Transaction
5. PDL BioPharma Reschedules Third Quarter 2009 Financial Results Conference Call for 8:30 a.m. ET on October 28, 2009
6. PDL BioPharma to Present at Oppenheimer & Co. 20th Annual Healthcare Conference on November 4, 2009
7. Microbix And Hunan Biopharmaceutical To Build Asias Largest Influenza Vaccine Facility
8. Sinobiopharma Presents Highlights from Unaudited First Quarter Financial Results for the 3 Month Period Ended August 31, 2009
9. Deloitte Recap Launches New Series of Biopharmaceutical Business Intelligence Tools
10. United States Securities and Exchange Commission Declares Effective Registration Statement for NeoStems Acquisition of China Biopharmaceuticals Holdings, Inc. and a Controlling Interest in Leading Chinese Pharmaceutical Company; Meeting of Each Com
11. Regado Biosciences To Present at the 2009 Japan Biopharma Partnering Conference on October 6, 2009
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:1/24/2017)...  Asterias Biotherapeutics, Inc. (NYSE MKT: AST), a ... today announced positive efficacy results from the company,s ... additional motor function improvement at 6-months and 9-months ... AIS-A patients with complete cervical spinal cord injuries ... function is critically important to patients with complete ...
(Date:1/24/2017)... USA & Geneva, Switerland (PRWEB) , ... January ... ... to announce the first commercially available malaria Plasmodium falciparum culture panels with standard ... falciparum culture panels, which are available in a range of concentrations from six ...
(Date:1/24/2017)... ... January 23, 2017 , ... Oklahoma City based Sigma Blood ... for the firm’s PERFEQTA software and legacy product QC Manager 2.0. , Sigma ... team at CJBC and thrilled that they have decided to implement PERFEQTA and QC ...
(Date:1/24/2017)... - BioAmber Inc. (NYSE: BIOA ) today announced ... Rodman & Renshaw, a unit of H.C. Wainwright ... representative of several underwriters, under which the underwriters have ... minimum of 2,105,264 shares of common stock of the ... 1,052,632 shares of common stock of the Company with ...
Breaking Biology Technology:
(Date:12/15/2016)... and BADEN-BADEN, Germany , December ... leading global financial services provider, today announced an agreement with ... behavioural biometrics, to join forces. The partnership will enable clients ... strategies in compliance with local data protection regulation. ... In order to ...
(Date:12/15/2016)... Advancements in biometrics will radically ... wellbeing (HWW), and security of vehicles by ... vehicles begin to feature fingerprint recognition, iris ... monitoring, brain wave monitoring, stress detection, fatigue ... detection. These will be driven by built-in, ...
(Date:12/12/2016)... CLEVELAND , Dec. 12, 2016  Researchers ... commercial possibilities for graphene by combining the material ... a highly sensitive pressure detector able to sense ... of a small spider.  The ... and can be read here:  http://science.sciencemag.org/content/354/6317/1257 ...
Breaking Biology News(10 mins):