IPass Declares $20 Mln Extraordinary Dividend

REDWOOD SHORES, Calif. (AP) ¿ iPass Inc., an Internet access provider for mobile workers, on Tuesday declared an extraordinary cash dividend of $20 million, or 32 cents per share.

The dividend is payable on Sept. 17 to shareholders of record as of Aug. 31.

At a special shareholders meeting, stockholders also approved changes to the company's equity incentive plans that let the board of directors make adjustments to outstanding awards in the event of an extraordinary cash dividend, according to a Securities and Exchange Commission filing.

Shares of iPass were up 9 cents, or 5.4 percent, to $1.74 in after-hours trading on Tuesday. The stock was down 2 cents to $1.65 during the regular session.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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