By Ben Glickman
Safeguard Scientifics declared a special cash dividend contingent on shareholders allowing the company to proceed with plans to delist its shares.
The Radnor, Pa.-based company, which used to invest in companies but pivoted in 2018 to monetizing existing interests, said the special cash dividend of 35 cents a share was contingent on shareholders adopting amendments to the company’s articles of incorporation.
Those amendments would effect a reverse stock split and forward stock split, allowing the company to deregister and delist its shares and move forward with its privatizing transaction.
Safeguard said the strategy was consistent with its goal of returning value to shareholders. The dividend will be paid from cash on hand.
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