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ELoyalty Announces Cash Dividend for the CRM Vendor
TMCnet Contributing Editor
The Board of Directors of eLoyalty Corporation have declared a cash dividend of $0.1785 per share on its 7 percent Series B convertible preferred stock (Series B stock), payable on January 2, 2007 to record shareholders as of the close of business on December 15, 2006. The aggregate amount of this dividend payment will be approximately $732,000.
ELoyalty sells management consulting, systems integration, and managed services "focused on optimizing customer interactions." It offers a broad range of enterprise CRM services including hosting best-of-breed CRM and analytics software applications.
Last month eLoyalty announced that the Registration Statement for its previously announced common stock Rights Offering was declared effective on November 20, 2006 by the Securities and Exchange Commission.
Under terms of the Rights Offering described in the prospectus contained in the Registration Statement, eLoyalty will distribute non-transferable subscription rights to purchase up to an aggregate of 1,001,342 shares of eLoyalty's common stock to persons who own shares of eLoyalty's common stock or Series B Preferred Stock as of the close of business on November 20, 2006, the record date for the Rights Offering.
Each holder of record as of the close of business on the record date will receive 0.0910 of a subscription right for each share of eLoyalty's common stock and each share of Series B Preferred Stock owned at the close of business on the record date. eLoyalty will not distribute any fractional rights. Instead, fractional subscription rights will be rounded down to the next whole number.
David Sims is contributing editor for TMCnet. For more articles please visit David Sims’ columnist page.
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