ClearOne Special Cash Dividend Declaration
ClearOne Inc. has announced a one-time special cash dividend of $0.50 per share of ClearOne common stock. The dividend, declared by the company’s Board of Directors, is scheduled for payment on April 10, 2024, to shareholders of record as of April 2, 2024.
ClearOne Special Cash Dividend Declaration Market Response
The news of the special cash dividend has triggered a remarkable surge in the stock price of ClearOne. Following a previous close of $0.90 on Monday, the stock opened trading at $1.67 on Tuesday morning, showcasing investor enthusiasm for the dividend announcement. Alongside the price surge, the trading volume of ClearOne’s stock has witnessed an extraordinary increase. By noon on Tuesday, approximately 107.5 million shares had already exchanged hands, significantly surpassing the daily average of 147.44 thousand shares.
At the time of this publication, ClearOne Inc stock (MEI) has witnessed a surge.
ClearOne Inc
Current Price: $2.01
Change : +1.10
Change (%): (122.03%)
Volume: 107.5M
Source: Tomorrow Events Market Data
Impact of Dividend Exceedance
As the special cash dividend exceeds twenty-five percent of the value of the company’s common stock, shareholders selling shares on or before the payment date of April 10, 2024, will not receive the dividend for the sold shares, as per FINRA UPC Rule 11140.
CEO’s Statement
Derek Graham, Chief Executive Officer of ClearOne, expressed gratitude to shareholders for their support and outlined the company’s strategy for future growth. While emphasizing the company’s achievable plan to return to revenue growth and profitability, Graham highlighted the decision to share the surplus with shareholders.
Future Dividend Considerations
Despite the one-time nature of this special cash dividend, ClearOne Inc’s Board of Directors retains discretion over future dividend distributions. The board will assess the possibility of future dividends based on relevant factors. However, at present, no additional dividends have been authorized or contemplated.
Company Profile
ClearOne Inc. is a global leader in conferencing, collaboration, and network streaming solutions. Its advanced and comprehensive solutions are renowned for their performance, simplicity, reliability, and scalability, catering to diverse conferencing and collaboration needs across the globe.
