International media and marketing shop Arbitron announced yesterday its second-quarter dividend of $0.10 per share, the same rate it's always paid since 2005
The board of directors said the quarterly dividend is payable on July 1 to the holders of record at the close of business on June 17.
Arbitron is in the process of merging with Nielsen Holdings. If the transaction is completed before June 17, the dividend will be pro-rated at a rate of $0.001063829787234 per share per day for each day after March 15, the record date for its previous dividend.
The merger agreement ensures that, regardless of when the deal is consummated, stockholders will receive a dividend at the current rate. The pro rata dividend will be payable within 30 days after the merger closes to shareholders of record at the close of business on the day before the merger is completed.
The regular dividend payment equates to a $0.40-per-share annual dividend, yielding 0.9% based on the closing price of Arbitron's stock on May 22.
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