Alliance Semiconductor Declares Special Cash Dividend.SANTA CLARA Santa Clara, city, Cuba Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif. -- Alliance Semiconductor Corporation (Pink Sheets:ALSC ALSC Association for Library Service to Children ALSC Adirondack Lakes Survey Corporation ALSC Afloat Logistics and Sealift Capability ALSC American Lumber Standards Committee, Inc. ALSC Advanced Logistics Systems Center (AFMC) ) announced today that its Board of Directors declared a special one-time cash dividend of $0.02 per share, which is payable January 30, 2009 to stockholders of record as of the close of business January 26, 2009. Bryant Riley, Alliance's Chairman, said, "This dividend represents our continued focus on returning capital to shareholders. Ambac Assurance has exercised its put to convert our auction rate securities to shares of Ambac Assurance Preferred Stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. . Currently, this Preferred Stock is paying dividends equivalent to the interest we would have received on the auction rate securities. We hope to make additional distributions, as available cash allows, considering the Company's reduced expenses. The amount and timing of such additional payments is uncertain until the company's holdings of Ambac Preferred Stock can to be monetized in an orderly orderly /or·der·ly/ (or´der-le) an attendant in a hospital who works under the direction of a nurse. or·der·ly n. An attendant in a hospital. manner." |
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