Footstar, Inc. today announced that its Board of Directors has declared a $2 per share cash distribution, payment of which is contingent upon approval, at the special meeting of shareholders to be held on May 5, 2009, of the plan of complete dissolution and liquidation of the Company outlined in the Company's definitive proxy statement, which was filed with the Securities and Exchange Commission on April 6, 2009. The distribution is scheduled to be paid on May 6, 2009, assuming shareholder approval is obtained at the May 5th meeting, to shareholders of record as of the close of business on April 30, 2009.
Including the distribution announced today, since March 27, 2007 the Company has declared cumulative distributions to shareholders of $9 per share.
In afternoon trading, Footstar, Inc. was at $2.90, up 6.62%.
In other dividend news, DuPont announced its quarterly dividend of 41 cents per share. Coach Incorporated announced a dividend of 7.5 cents per share. Terra Industries Incorporated announced its quarterly dividend of 10 cents per share. Capitol Federal Financial announced its quarterly dividend of 50 cents per share.
In dividend increase news, Eli Lilly & Company announced its quarterly dividend of 49 cents per share, an increase of 4.26% over the dividend a year ago of 47 cents. Southern Company announced its quarterly dividend of 43.75 cents per share, an increase of 4.17% over the dividend a year ago of 42 cents. Anadarko Petroleum Corporation announced its quarterly dividend of 30 cents per share, an increase of 233.33% over the dividend a year ago of 9 cents. Public Service Enterprise Group announced its quarterly dividend of 33.25 cents per share, an increase of 2.94% over the dividend a year ago of 32.3 cents.
In dividend reduction news, Bank of New York Mellon Corporation announced its quarterly dividend of 9 cents per share, a decrease of 62.50% over the dividend a year ago of 24 cents. Canadian National RY Company announced its quarterly dividend of 20.38 cents per share, a decrease of 10.61% over the dividend a year ago of 22.8 cents. Penn West Energy Trust announced its monthly dividend of 15 cents per share, a decrease of 55.09% over the dividend a year ago of 33.4 cents. Terra Nitrogen Company announced its quarterly dividend of 2 dollars and 10 cents per share, a decrease of 50.00% over the dividend a year ago of 4 dollars and 20 cents.
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