Alere Inc. Formerly Known As Inverness Medical Innovations, Inc. Declares Dividend on its Series B Convertible Perpetual Preferred Stock
Published: Sep 02, 2010
WALTHAM, Mass., Sept. 1 /PRNewswire-FirstCall/ -- Alere Inc. (formerly known as Inverness Medical Innovations, Inc.) (NYSE: ALR), a global leader in enabling individuals to take charge of their health at home through the merger of rapid diagnostics and health management, has declared a dividend of $3.00 per share on its Series B Convertible Perpetual Preferred Stock (NYSE: ALR PR B). The dividend will be paid in shares of Series B stock in an amount per share equal to the quotient of (a) $3.00 divided by (b) 97% of the average of the volume-weighted average price per share of the Series B stock on the New York Stock Exchange for each of the five consecutive trading days ending on the second trading day immediately prior to the record date of the dividend. Alere will pay cash in lieu of any fractional shares resulting from the dividend. The dividend is payable on October 15, 2010 to holders of record of Series B stock at the close of business on October 1, 2010.
Such payment will cover the amount of all dividends accrued from July 1, 2010 through September 30, 2010.
For more information about Alere, please visit our website athttp://www.alere.com.
By developing new capabilities in near-patient diagnosis, monitoring and health management, Alere enables individuals to take charge of improving their health and quality of life at home. Alere's global leading products and services, as well as its new product development efforts, focus on infectious disease, cardiology, oncology, drugs of abuse and women's health. Alere is headquartered in Waltham, Massachusetts.
SOURCE Alere Inc.