Spreadtrum Keeps Dividend Steady
Fabless semiconductor company Spreadtrum Communicationsannounced today its second-quarter dividend of $0.10 per American depository share, or $0.0333 per ordinary share (each ADS equals three ordinary shares). That's the same rate it's paid for the past six quarters after doubling it from $0.05 per ADS.
The board of directors said the quarterly dividend is payable on July 24 to the holders of record at the close of business on July 9. The Chinese semi specialist said the quarterly payout represents approximately $4.96 million in aggregate dividends paid on the ordinary shares and is the ninth consecutive payout they've made.
Last week, Spreadtrum received a buyout offer from Tsinghua Unigroup, a subsidiary of the Chinese government-owned Tsinghua Holdings, which offered $28.50 per ADS, or $1.5 billion. Tsinghua Holdings is a state-owned corporation that receives funding from China's Tsinghua University.
The regular dividend payment equates to a $0.40-per-ADS annual dividend, yielding 1.6% based on the closing price of Spreadtrum Communications' stock on June 24.
The article Spreadtrum Keeps Dividend Steady originally appeared on Fool.com.Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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