Aware, Inc. Declares Special Cash Dividend

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Aware, Inc., a leading supplier of biometrics software and services, announced that its Board of Directors has declared a special cash dividend of $1.75 per share, or approximately $40 million in total. The special cash dividend will be paid on July 24, 2014 to shareholders of record as of July 10, 2014.

The Board of Directors has determined that the company’s current cash balances exceed our capital requirements and has decided to return cash to shareholders.

The federal income tax treatment of the special cash dividend will depend on the amount of the company’s current and accumulated earnings and profits as of December 31, 2014, as determined by the Internal Revenue Code.

Aware currently estimates that for federal income tax purposes approximately 10% of the special cash dividend will be treated as a dividend and that approximately 90% will be treated as a return of capital and/or capital gain.

Aware will notify shareholders in early 2015 as to the actual amounts of each.

Source: aware.com
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