VANCOUVER, British Columbia, June 14, 2013 (GLOBE NEWSWIRE) -- QLT Inc. (Nasdaq:QLTI) (TSX:QLT) (" QLT" or the " Company") is pleased to announce that at the annual general and special meeting (the " Meeting") held today, QLT's shareholders approved a special cash distribution in the amount of US$200 million, by way of a reduction of the capital of the Company's common shares (the " Shares"). As a result, QLT's shareholders as of June 24, 2013, the record date for the distribution (the " Record Date"), will receive a special cash distribution payment of approximately US$3.92 per Share (the " Distribution Payment") based upon the current number of issued and outstanding Shares of the Company. The final amount of the Distribution Payment per Share will be determined based upon the number of issued and outstanding Shares on the Record Date, and will be payable on June 27, 2013. As previously announced, the Company will be able to make the Distribution Payment to shareholders without Canadian withholding taxes of up to 25% being payable, pursuant to an Advance Tax Ruling received from Canadian tax authorities.
QLT Announces Shareholder Approval Of US$200 Million Special Cash Distribution To Shareholders And Election Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.