PCTEL, Inc. (NASDAQ: PCTI), a leader in antenna and scanning receiver solutions, announced today the planned retirement of Richard (Dick) Alberding from its Board of Directors. Alberding was one of the three original independent directors on the PCTEL board and was initially elected in 1999. Alberding served on both the Audit and Compensation Committees and chaired the Compensation Committee during his entire tenure. With Alberding’s retirement the Board will now have six independent directors and the Chairman and CEO. “Dick has been an outstanding director and established best compensation practices at PCTEL, served as a mentor to other board members and was invaluable to my development as a public company CEO,” said Marty Singer, PCTEL’s Chairman and CEO, who along with Giacomo Marini, also began serving as a PCTEL director with Dick Alberding in August, 1999. “Dick provided great insights as we made the transition from a struggling modem company to a stable provider of wireless products and solutions. While we will miss his contributions, our future success will reflect his influence on our culture and operations,” added Singer. “It has truly been an honor and privilege to work with fellow Board Members and the Management Team these past 13 years,” said Dick Alberding. “It has been exciting to be part of an organization that dramatically transitioned the Company from a single computer component offering to wide ranging and ever expanding PCTEL product families focused on 'simplifying wireless' in key Vertical Markets on a global playing field,” added Alberding. Mr. Alberding enjoyed a highly successful career at Hewlett Packard where he retired as Executive Vice President of Global Sales and Corporate Marketing. He has served on several public company and non-profit boards including Sybase, Cytec, Quick Eagle, Inc, Kennametal, Page Net and several privately held companies. He also served as a member of the Board of Trustees of Cazenovia College.
Looking at the universe of stocks we cover at Dividend Channel, on 2/4/15, PC-Tel Inc will trade ex-dividend, for its quarterly dividend of $0.05, payable on 2/13/15. As a percentage of PCTI's recent stock price of $8.35, this dividend works out to approximately 0.60%, so look for shares of PC-Tel Inc to trade 0.60% lower — all else being equal — when PCTI shares open for trading on 2/4/15.