INCLINE VILLAGE, NV / ACCESSWIRE / February 9, 2016 / PDL BioPharma Inc. (NASDAQ: PDLI) a manager of a portfolio of patents and royalty assets, consisting of Queen et al. patents, license agreements with various biotechnology and pharmaceutical companies, and royalty and other assets, recently announced that its board of directors has declared a $0.05 per share dividend for the first quarter of 2016. The dividend will be paid on March 11, 2016 to all stockholders who own shares of PDL on March 4, 2016, the record date for the first quarter dividend payment. The Company believes PDL's prospects in 2016 are very strong. In particular, factors the board assessed to determine the dividend payment amount included:
- The need to retain a sizeable cash position in order to capitalize on potential income-generating deals that could provide significantly greater long-term benefits to the company and its shareholders. In particular, PDL already has seen an increase in deal flow as companies are impacted by the broader equity and debt market shift to less favorable terms.
- The expiration of the Queen et al. patents associated with a number of PDL's revenue-generating assets. In preparation and to mitigate the impact, the Company has committed more than $1 billion to acquire other income generating assets not covered by these patents that should continue to generate income for PDL. As expected, the impact of the expiration of Queen et al. patents will begin to be reflected with the second quarter 2016 revenues.
- The vast majority of companies that pay dividends evaluate their dividend disbursements on a quarterly, rather than annual basis. Based on PDL's research, PDL was only one of two companies out of 308 that employed the annual assessment. PDL will now adopt the more common practice of announcing its dividend payout on a quarterly basis in order to better evaluate alternative opportunities for maximizing long-term growth.
For a more detailed research report with analyst comments on PDL BioPharma Inc. (NASDAQ: PDLI) please follow the link. There is no cost obligation required to view analyst brief: http://bit.ly/1Q1S1cp-PDLIAnalyst.
FORWARD-LOOKING DISCLAIMER:
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of the subject company in this report to be materially different from the statements made herein.
COMPLIANCE PROCEDURE:
Content is researched, written and reviewed on a best-effort basis. Information in this release is fact checked and produced on a best efforts basis by Robert Borowski. An outsourced research services provider represented by Robert Borowski, provided Small Cap Street this article or report. However, we are only human and are prone to make mistakes. If you notice any errors or omissions, please notify us below. Small Cap Street is not entitled to veto, interfere or alter the articles, documents or report once created and reviewed by the outsourced research provider represented by Robert Borowski. The subject Company has not compensated Small Cap Street or Robert Borowski for the creation or dissemination of this report. Small Cap Street is the party responsible for issuing the press release and for hosting the full analyst report on Small Cap Street website. Robert Borowski is the author of research report. This information is submitted to increase awareness for the Small Cap Street brand to our subscriber base and the investing public.
If you wish to have your company covered in more detail by our team, or wish to learn more about our services, please contact us at admin@SmallCapStreet.com. For any urgent concerns or inquiries, please contact us at admin@SmallCapStreet.com.
NOT FINANCIAL ADVICE:
Small Cap Street makes no warranty, expressed or implied, as to the accuracy or completeness or fitness for a purpose (investment or otherwise), of the information provided in this document. This information is not to be construed as personal financial advice. Readers are encouraged to consult their personal financial advisor before making any decisions to buy, sell or hold any securities mentioned herein.
NO WARRANTY OR LIABILITY ASSUMED:
Small Cap Street is not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. Small Cap Street has compensated Robert Borowski, up to two hundred fifty dollars for the distribution rights to disseminate analyst report. No liability is accepted by Small Cap Street whatsoever for any direct, indirect or consequential loss arising from the use of this document. Small Cap Street expressly disclaims any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Small Cap Street does not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
CFA(R) and Chartered Financial Analyst(R) are registered trademarks owned by CFA Institute.
SOURCE: Small Cap Street
