PFSweb Announces Updated Ex-Dividend Date for Special Dividend
11 Novembre 2022 - 10:05PM
PFSweb, Inc. (NASDAQ: PFSW) (the "Company") today announced that,
in connection with the Company's recently announced special cash
dividend of $4.50 per share (the "Special Dividend"), Nasdaq has
determined that the ex-dividend date for the Special Dividend will
be December 16, 2022 (the “Ex-Dividend Date”) in lieu of the
November 30, 2022 date previously announced by the Company.
Since the payment of the Special Dividend represents more than
25% of the stock price on the declaration date of November 9, 2022,
Nasdaq has determined that the Company's shares will trade with
"due bills" representing an assignment of the right to receive the
Special Dividend or an obligation to deliver any shares acquired as
a result of the Special Dividend from the record date of December
1, 2022 through the closing of the Nasdaq Capital Market on the
payment date of December 15, 2022 (this period of time representing
the “Dividend Right Period”). Thus, the Company’s shares will trade
with this “due bill” and the assignment of the right to receive the
Special Dividend during the Dividend Right Period until the
Ex-Dividend Date of December 16, 2022, the first business day after
the payment date.
Stockholders who sell their shares during the Dividend Right
Period and prior to the Ex-Dividend Date will be selling their
right to the Special Dividend, and such stockholder will not be
entitled to receive the Special Dividend. Due bills obligate a
seller of shares to deliver the Special Dividend payable on such
shares to the buyer and holder of the shares as of the payment date
(the “Dividend Right”). The due bill obligations are settled
customarily between the brokers representing the buyers and sellers
of the shares. The Company has no obligation for either the amount
of the due bill or the processing of the due bill. Buyers and
sellers of the Company's shares should consult their broker before
trading to be sure they understand the effect of Nasdaq's due bill
procedures.
As previously announced, the special cash dividend equal to
$4.50 per share of the Company's common stock is scheduled to be
paid on December 15, 2022. The record date of December 1, 2022
remains the same and will be used as the date for establishing the
due bill tracking of the Dividend Right to the holder of the shares
on the payment date.
Forward-Looking Statements.
This press release contains forward-looking statements which
involve certain risks and uncertainties that could cause actual
results to differ materially from those expressed or implied by
these statements.
About PFSweb, Inc.
PFS, the business unit of PFSweb, Inc. (NASDAQ: PFSW) is a
premier eCommerce order fulfillment provider. We facilitate each
operational step of an eCommerce order in support of DTC and B2B
retail brands and specialize in health & beauty, fashion &
apparel, jewelry, and consumer packaged goods. Our scalable
solutions support customized pick/pack/ship services that deliver
on brand ethos with each order. A proven order management platform,
as well as high-touch customer care, reinforce our operation. With
20+ years as an industry leader, PFS is the BPO of choice for
brand-centric companies and household brand names, such as L’Oréal
USA, Champion, Pandora, Shiseido Americas, Kendra Scott, the United
States Mint, and many more. The Company is headquartered in Irving,
TX with additional locations around the globe. For more
information, visit www.pfscommerce.com or www.ir.pfsweb.com for
investor information.
Investor Relations:
Cody Slach and Jackie KeshnerGateway Group, Inc.
1-949-574-3860PFSW@gatewayir.com
Pfsweb (NASDAQ:PFSW)
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