This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Inteliquent(R) Announces Plan To Return Cash To Shareholders

CHICAGO, May 20, 2013 (GLOBE NEWSWIRE) -- Neutral Tandem, Inc. d/b/a Inteliquent (Nasdaq:IQNT), a leading provider of voice interconnection services, today announced its intention to declare a special dividend of $1.25 per share and to initiate a quarterly dividend of $0.0625 per share of its common stock. Both dividends are expected to be declared and paid within the next three months.

Inteliquent also announced today that it has reached an agreement with Clinton Group, Inc. ("Clinton Group"). Under the agreement, the Company will declare the dividends and appoint, prior to December 31, 2013, at least one new independent director. The investors have agreed, among other things, to withdraw their notice of intent to nominate individuals for election as directors at the 2013 annual meeting and not to take certain actions during a "standstill" period.

"We are delighted to be returning cash to our shareholders promptly after the successful sale of our global data business," said Ed Evans, Chief Executive Officer. "We expect to continue the payment of quarterly dividends and further enhance the value we provide to our shareholders as our business continues to perform well."

"This announcement is an extremely positive one for all Inteliquent shareholders," said Gregory P. Taxin, Managing Director of Clinton Group. "We appreciate the Board's actions and believe the sale of the global data business, the return of approximately $40 million to shareholders, the ongoing dividend and the commitment to further augment the Board are all well considered steps that will help create significant shareholder value."

"Based on our solid balance sheet and the confidence we have in our strong cash flow profile, we believed that now was the right time in our corporate history to adopt a regular quarterly dividend policy, as well as to make another special dividend payment from our excess cash," said David Zwick, Executive Vice President and Chief Financial Officer. 

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.64 -0.11%
FB $118.57 0.84%
GOOG $698.21 0.75%
TSLA $241.80 0.43%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,891.16 +117.52 0.66%
S&P 500 2,081.43 +16.13 0.78%
NASDAQ 4,817.5940 +42.2360 0.88%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs