CHICAGO (AP) -- Voice services provider Neutral Tandem Inc. is planning a quarterly dividend of 6.25 cents per share and a special dividend of $1.25 per share within the next three months.
The company, which does business as Inteliquent, said it has also reached a deal with Clinton Group Inc. to appoint at least one new independent board member before year's end. In turn, Clinton Group agreed to withdraw a notice of intent to nominate people for the board and not to take certain actions during a standstill period.
Shares of Neutral Tandem rose 35 cents, or 6 percent, to $6.21 in midday trading on Monday. The stock has traded in a 52-week range of $2.10 to $14.15.