QAD Inc. (NASDAQ: QADA) (NASDAQ: QADB), a leading provider of enterprise software solutions for global manufacturers, today announced that its Board of Directors has declared a quarterly dividend of $0.072 per share of Class A common stock and $0.06 per share of Class B common stock payable on July 16, 2012 to shareholders of record at the close of business on June 4, 2012.
QAD will pay its quarterly dividend in either cash or shares of the company’s Class A common stock, at the election of each shareholder. Shareholders will have until June 25, 2012 to make a cash distribution election, otherwise they will automatically receive the dividend in stock. Those shareholders choosing the dividend payable in stock will receive shares proportionate to the total cash amount based on the average closing price of QAD’s Class A common stock for the three trading days immediately following the election deadline. The company will make a cash payment in lieu of issuing fractional shares to shareholders choosing the dividend payable in stock.
Shareholders should consult with a tax advisor prior to making a distribution election.
Additional information regarding the distribution election will be mailed to shareholders of record as soon as practicable after June 4, 2012. A properly completed distribution election form must be received by the company’s transfer agent prior to 5:00 PM EDT on June 25, 2012. For shares held through a bank, broker or nominee, questions should be directed to such bank, broker or nominee. Registered shareholders with questions regarding the dividend should contact American Stock Transfer & Trust Company at (212) 936-5100.Continuing quarterly dividends are subject to the approval of QAD’s Board of Directors whose decision will consider factors such as the continued profitability and liquidity requirements of the company. About QAD QAD is a leading provider of enterprise applications for global manufacturing companies specializing in automotive, consumer, electronics, food and beverage, industrial and life sciences products. QAD applications provide critical functionality for managing manufacturing resources and operations within and beyond the enterprise, enabling global manufacturers to collaborate with their customers, suppliers and partners to make and deliver the right product, at the right cost and at the right time. For more information about QAD, telephone +1 805-566-6000, or visit the QAD web site at http://www.qad.com. "QAD" is a registered trademark of QAD Inc. All other products or company names herein may be trademarks of their respective owners.