Strong Financial Performance and Robust Cash Position Support
Distribution
KING OF PRUSSIA, Pa.--(BUSINESS WIRE)--
InterDigital, Inc. (NASDAQ:IDCC) is pleased to announce that its Board
of Directors has approved the company’s initial dividend policy,
pursuant to which the company will pay a regular quarterly cash dividend
of $0.10 per share on its common stock. The Board has declared the first
quarterly cash dividend to be payable on February 2, 2011 to
shareholders of record of the company’s common stock at the close of
business on January 12, 2011.
“With one of the strongest wireless technology portfolios in the
industry, InterDigital® continues to drive shareholder value
through a combination of strategic investments in its business and
appropriate levels of capital return, both in the form of cash dividends
and stock repurchases,” said Terry Clontz, InterDigital’s Chairman of
the Board. “The initiation of a regular dividend reflects the stability
of the company, its strong performance over the past several years and
our confidence in the long-term prospects for the business.”
In establishing the initial level of the regular quarterly dividend, the
Board of Directors considered a number of factors, including current and
future performance metrics, use of cash to grow the business and
maintain ample flexibility to pursue strategic investments. The Board
will review the company’s capital policy periodically to determine the
appropriate level of dividend distributions as well as other means to
return capital to shareholders, including the repurchase of common stock.
About InterDigital
InterDigital develops fundamental wireless technologies that are at the
core of mobile devices, networks, and services worldwide. We solve many
of the industry’s most critical and complex technical challenges,
inventing solutions for more efficient broadband networks and a richer
multimedia experience years ahead of market deployment. InterDigital has
licenses and partnerships with many of the world’s leading wireless
companies.
InterDigital is a registered trademark of InterDigital, Inc.
For more information, visit: www.interdigital.com.
Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended. Such statements include information regarding our current
beliefs, plans and expectations, including, without limitation: (i) our
plans to pay a quarterly cash dividend of $0.10 per share, (ii) our
confidence in the long-term prospects for the business and (iii) our
plans to review the company’s capital policy periodically and what
factors such review will assess. Words such as “will,” “plans” and
variations of any such words or similar expressions are intended to
identify such forward-looking statements.
Forward-looking statements are subject to risks and uncertainties.
Actual outcomes could differ materially from those expressed in or
anticipated by such forward-looking statements due to a variety of
factors, including, without limitation, those identified in this press
release, as well as the following: (i) unanticipated delays,
difficulties or acceleration in the execution of patent license or
technology solutions agreements; (ii) our ability to leverage our
strategic relationships and secure new patent license or technology
solutions agreements on acceptable terms; (iii) changes in the market
share and sales performance of our primary licensees, delays in product
shipments of our licensees and timely receipt and final reviews of
quarterly royalty reports from our licensees and related matters; (iv)
the failure of the markets for our technologies to materialize to the
extent or at the rate that we expect; (v) the resolution of current
legal proceedings, including any awards or judgments relating to such
proceedings, additional legal proceedings, changes in the schedules or
costs associated with legal proceedings or adverse rulings in such legal
proceedings and (vi) an increase in the company’s cash needs or a
decrease in available cash or the company’s inability to declare a
dividend in compliance with applicable laws. We undertake no duty to
update publicly any forward-looking statement, whether as a result of
new information, future events or otherwise, except as may be required
by applicable law, regulation or other competent legal authority.
Source: InterDigital, Inc.
Contact:
InterDigital, Inc.
Media Contact:
Jack Indekeu, +1 610-878-7800
jack.indekeu@interdigital.com
or
Investor
Contact:
Janet Point, +1 610-878-7800
janet.point@interdigital.com