CYCC Declares A Cash Dividend For Preferred Shares
On January 11, 2013, the Board of Directors (the “ Board ”) of Cyclacel Pharmaceuticals, Inc. (the “ Company ”) declared a quarterly cash dividend in the amount of $0.15 per share on the Company’s 6% Convertible Exchangeable Preferred Stock (“ Preferred Stock ”). The cash dividend will be payable on February 1, 2013 to the holders of record of the Preferred Stock as of the close business on January 22, 2013.
The Board considered numerous factors in determining whether to declare the quarterly dividend, including the requisite financial analysis and determination of a surplus. While the Board will analyze the advisability of the declaration of dividends in future quarters, there is no assurance that future quarterly dividends will be declared.
Getting their ducks in a row. What does this tell you? Buy now or be left behind, GLTA.