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    MRV Communications provides Additional Info Regarding Special Dividend

    MRV Communications provides Additional Info Regarding Special Dividend

    MRV Communications Inc. (PINK: MRVC), a worldwide provider of carrier Ethernet, wavelength division multiplexing optical transport and infrastructure management equipment and solutions, today provided additional information regarding its previously announced special dividend.

    Last week, MRV announced a special dividend of $75 million. Earlier today MRV published additional information regarding the special dividend on its Web site. The company updated shareholders that the dividend amount per share will be $0.4757. The payment date of the special dividend has been set as November 10, 2011, while the record data has been set as November 2, 2011.

    The ex-dividend data has been set at November 11, 2011. The company noted that the ex-dividend date has been set after payment date under Financial Industry Regulatory Authority’s (FINRA) rules. Under FINRA’s regulations, for dividends which are 25% greater of the value of the subject security, the ex-dividend date is the first business day after the payment date.

    MRV shares are up sharply in today’s trading. At last check, the penny stock was trading 10.92% higher at $1.32, with volume up from daily average of 310,024 to 1.34 million. In the last month, the stock gained 5.60%.

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