Navigation Links
PDL BioPharma Announces Regular Quarterly Dividend Policy
Date:2/28/2011

INCLINE VILLAGE, Nev., Feb. 28, 2011 /PRNewswire/ -- PDL BioPharma, Inc. (PDL) (Nasdaq: PDLI) today announced that its board of directors has adopted a regular dividend policy for 2011 and beyond and declared that the four quarterly dividends to be paid to its stockholders in 2011 will be $0.15 per share of common stock.  The $0.15 dividends will be paid on March 15, June 15, September 15 and December 15 to all stockholders who own shares of PDL on March 8, June 8, September 8, and December 8, the Record Dates for each of the dividend payments, respectively.

In response to requests by stockholders, the Company is moving from a special dividend policy to a regular quarterly dividend policy to provide more consistent returns to stockholders.

"The regular quarterly dividend policy will give investors confidence in our commitment to pay dividends to our stockholders. The dividend payments for 2011 allow us to provide a return to our stockholders from current cash flow and use a portion of our cash flow to increase the return to stockholders through the acquisition of new royalty generating assets," said John P. McLaughlin, president and chief executive officer of PDL BioPharma.

Stockholders desiring to purchase shares with rights to the dividend must ensure that their trades are executed prior to the "ex-dividend" date and settle prior to the Record Date. NASDAQ will establish an ex-dividend date that is generally two business days prior to the Record Date. Investors should consult with their brokers or financial advisors regarding their specific situations.

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 based on patents which expire 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

As all dividend payments are subject to compliance with legal requirements, dividend announcements constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and could be withdrawn prior to payment at the discretion of the Company's board of directors. Important factors that could impair the value of the Company's royalty assets and limit the Company's ability to pay dividends are disclosed in the risk factors contained in the Company's 2009 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 1, 2010. All forward-looking statements are expressly qualified in their entirety by such factors. We do not undertake any duty to update any forward-looking statement except as required by law.


'/>"/>
SOURCE PDL BioPharma, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. WallSt.net (www.wallst.net) Updates the Investment Community Through an All-New Interview With RegeneRx Biopharmaceuticals CEO
2. Nabi Biopharmaceuticals Announces Second Quarter 2007 Financial Results
3. Nabi Biopharmaceuticals Announces Continued Positive NicVAX Phase 2b Data at Nine Months
4. Keryx Biopharmaceuticals to Present at William Blair & Company Small-Cap Growth Stock Conference
5. Morria Biopharmaceuticals Plc Initiates Phase I Clinical Study of MRX-4 in Allergic Rhinitis
6. Keryx Biopharmaceuticals, Inc. Announces Positive Preliminary Phase 2 Data on KRX-0401 in Patients with Chemo-Insensitive Rare Sarcoma
7. Nabi Biopharmaceuticals Announces Successful Completion of NicVAX(R) Phase 2b Trial; Drug Shows Statistically Significant Rates of Smoking Cessation and Continuous Long-Term Smoking Abstinence at 12 Months
8. Inspiration Biopharmaceuticals Announces Filing of IND for Novel Recombinant Factor IX Product, IB1001, for the Treatment of Hemophilia B
9. Immunosyn Announces Biozyme Labs Receipt of MHRA Manufacturing License Approval in Europe for the Biopharmaceutical SF-1019
10. Keryx Biopharmaceuticals, Inc. Announces Phase 1 and Phase 2 Data on KRX-0401 (Perifosine) in Patients with Relapsed/Refractory Multiple Myeloma at 49th Annual Meeting of American Society of Hematology
11. XTL Biopharmaceuticals Presents Data Regarding its Hepatitis C Virus Small Molecule Program at Hep Dart 2007 - an International Scientific Conference on Viral Hepatitis
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/24/2017)... Research and Markets has announced the addition of the "Dry eye ... ... eye Drugs Price Analysis and Strategies - 2016, provides drug pricing data ... the following questions: What are the key ... positioned in the Global Dry eye market? What are ...
(Date:2/24/2017)... , Feb. 24, 2017 Medical ... ways to increase their self-service capabilities to manage ... Providers (HCPs). New research from consulting ... organizations have developed self-service website portals where HCPs ... is just one of many findings to emerge ...
(Date:2/24/2017)... , Feb. 23, 2017 Report analyzes the ... provides separate comprehensive analytics for the US, Canada ... , Asia-Pacific , Latin ... forecasts are provided for the period 2015 through 2022. Also, ... data and analytics are derived from primary and secondary research. ...
Breaking Medicine Technology:
(Date:2/24/2017)... ... February 24, 2017 , ... Healthcare Associates of McKinney announced today ... building at 8080 State Highway 121, Suite 210, McKinney, Texas 75070. It is ... 121. , As the practice has grown, the need for more space has been ...
(Date:2/24/2017)... ... February 24, 2017 , ... The California State ... convening academic faculty engaged in or interested in palliative care education and research. The ... be held in North County San Diego on Sept. 28 and 29, 2017, on ...
(Date:2/24/2017)... ... ... Fiber Network (IFN) President and CEO Kelly C. Dyer recently announced that he will ... the Management Committee when IFN was originally formed in 2002 where he was ultimately ... of the business plan. He became the first paid employee of IFN in ...
(Date:2/24/2017)... (PRWEB) , ... February 24, 2017 , ... ... qualifying into the Senior International Elite division on February 12th. Ms. Esparza ... divisions at the elite qualifier competition held in Las Vegas, Nevada. Frida is ...
(Date:2/23/2017)... ... February 23, 2017 , ... On February 22, 2017 the ... to withdraw previous guidance issued by the Obama Administration requiring schools to ... May 2016 by the Obama Administration came in response to a growing number ...
Breaking Medicine News(10 mins):