|By Business Wire||
|July 24, 2013 07:19 PM EDT||
The Board of Directors of IDT Corporation (NYSE: IDT) today declared a special dividend of $0.08 per share to holders of its Class A and Class B common stock. IDT also announced that it expects to resume payment of regular quarterly dividends commencing with the first quarter of its 2014 fiscal year (the three months ending October 31, 2013) which it expects to pay in December 2013. In November 2012, IDT paid its 2013 fiscal year dividends in advance with a special dividend of $0.60 per share.
“IDT has continued to grow and generate strong cash flow throughout 2013. In light of these positive trends, and the impressive performance across the Company’s divisions and business units, we are declaring this special year-end dividend,” said Howard Jonas, IDT’s Chairman and CEO.
“We expect to resume regular quarterly dividends for fiscal 2014, and will establish the quarterly dividend amount based on the Company’s performance and outlook during the first quarter,” Mr. Jonas added. “In addition, we expect to complete the spin-off of Straight Path Communications (NYSE MKT: STRP) to our stockholders on July 31st, and thereby continue to create and share value with IDT stockholders whether through the increased market value of our company, paying cash dividends, and stock repurchases or through distributing separate businesses through spin-offs such as Genie Energy (NYSE: GNE), CTM Media (CTMMA, CTMMB) and now Straight Path. Looking ahead, we expect to continue to create value for our stockholders through additional shareholder friendly actions.”
The special dividend will be paid on September 10, 2013 to stockholders of record as of the close of business on August 30, 2013. The ex-dividend date will be August 28, 2013.
The distribution will be treated as an ordinary dividend for tax purposes.
In this press release, all statements that are not purely about historical facts, including, but not limited to, those in which we use the words “believe,” “anticipate,” “expect,” “plan,” “intend,” “estimate, “target” and similar expressions, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgment of what may happen in the future, actual results may differ materially from the results expressed or implied by these statements due to numerous important factors, including, but not limited to, those described in our most recent Form 10-K filing (under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations”), which may be revised or supplemented in subsequent reports on SEC Forms 10-K, 10-Q and 8-K. We are under no obligation, and expressly disclaim any obligation, to update the forward-looking statements in this press release, whether as a result of new information, future events or otherwise.
About IDT Corporation:
IDT Corporation (NYSE: IDT) through its IDT Telecom division, provides telecommunications and payment services. IDT Telecom’s retail products allow people to communicate and share resources around the world while its carrier services business is a global leader in wholesale voice termination. For more information, visit www.idt.net. IDT also holds majority shares in two technology companies: Fabrix Systems (www.fabrixsystems.com), a software development company specializing in highly efficient cloud-based video processing, storage and delivery, and; Zedge (www.zedge.net), a platform - including popular Android and iOS apps - that allows users to share and obtain content to personalize mobile phones and tablets.
Cultural, regulatory, environmental, political and economic (CREPE) conditions over the past decade are creating cross-industry solution spaces that require processes and technologies from both the Internet of Things (IoT), and Data Management and Analytics (DMA). These solution spaces are evolving into Sensor Analytics Ecosystems (SAE) that represent significant new opportunities for organizations of all types. Public Utilities throughout the world, providing electricity, natural gas and water,...
Feb. 1, 2015 05:15 AM EST Reads: 3,227
In her General Session at 15th Cloud Expo, Anne Plese, Senior Consultant, Cloud Product Marketing, at Verizon Enterprise, focused on finding the right mix of renting vs. buying Oracle capacity to scale to meet business demands, and offer validated Oracle database TCO models for Oracle development and testing environments. Anne Plese is a marketing and technology enthusiast/realist with over 19+ years in high tech. At Verizon Enterprise, she focuses on driving growth for the Verizon Cloud platfo...
Feb. 1, 2015 04:30 AM EST Reads: 3,543
Between the compelling mockups and specs produced by your analysts and designers, and the resulting application built by your developers, there is a gulf where projects fail, costs spiral out of control, and applications fall short of requirements. In his session at DevOps Summit, Charles Kendrick, CTO and Chief Architect at Isomorphic Software, will present a new approach where business and development users collaborate – each using tools appropriate to their goals and expertise – to build mo...
Feb. 1, 2015 03:15 AM EST Reads: 2,000
There is no doubt that Big Data is here and getting bigger every day. Building a Big Data infrastructure today is no easy task. There are an enormous number of choices for database engines and technologies. To make things even more challenging, requirements are getting more sophisticated, and the standard paradigm of supporting historical analytics queries is often just one facet of what is needed. As Big Data growth continues, organizations are demanding real-time access to data, allowing immed...
Feb. 1, 2015 03:00 AM EST Reads: 3,562
Scott Jenson leads a project called The Physical Web within the Chrome team at Google. Project members are working to take the scalability and openness of the web and use it to talk to the exponentially exploding range of smart devices. Nearly every company today working on the IoT comes up with the same basic solution: use my server and you'll be fine. But if we really believe there will be trillions of these devices, that just can't scale. We need a system that is open a scalable and by using ...
Feb. 1, 2015 02:00 AM EST Reads: 3,186
15th Cloud Expo, which took place Nov. 4-6, 2014, at the Santa Clara Convention Center in Santa Clara, CA, expanded the conference content of @ThingsExpo, Big Data Expo, and DevOps Summit to include two developer events. IBM held a Bluemix Developer Playground on November 5 and ElasticBox held a Hackathon on November 6. Both events took place on the expo floor. The Bluemix Developer Playground, for developers of all levels, highlighted the ease of use of Bluemix, its services and functionalit...
Feb. 1, 2015 12:30 AM EST Reads: 2,987
"ElasticBox is an enterprise company that makes it very easy for developers and IT ops to collaborate to develop, build and deploy applications on any cloud - private, public or hybrid," stated Monish Sharma, VP of Customer Success at ElasticBox, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 31, 2015 11:45 PM EST Reads: 2,880
"For the past 4 years we have been working mainly to export. For the last 3 or 4 years the main market was Russia. In the past year we have been working to expand our footprint in Europe and the United States," explained Andris Gailitis, CEO of DEAC, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 31, 2015 11:45 PM EST Reads: 2,723
The Internet of Things will greatly expand the opportunities for data collection and new business models driven off of that data. In her session at @ThingsExpo, Esmeralda Swartz, CMO of MetraTech, discussed how for this to be effective you not only need to have infrastructure and operational models capable of utilizing this new phenomenon, but increasingly service providers will need to convince a skeptical public to participate. Get ready to show them the money!
Jan. 31, 2015 11:30 PM EST Reads: 3,121
The Industrial Internet revolution is now underway, enabled by connected machines and billions of devices that communicate and collaborate. The massive amounts of Big Data requiring real-time analysis is flooding legacy IT systems and giving way to cloud environments that can handle the unpredictable workloads. Yet many barriers remain until we can fully realize the opportunities and benefits from the convergence of machines and devices with Big Data and the cloud, including interoperability, ...
Jan. 31, 2015 11:00 PM EST Reads: 2,995
At 15th Cloud Expo, Shrikant Pattathil, Executive Vice President at Harbinger Systems, demos a video delivery platform that helps you do interactive videos. He discusses how Harbinger is accomplishing it in the cloud world, the problems they faced and the choices they made to get around these problems.
Jan. 31, 2015 10:45 PM EST Reads: 1,730
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 31, 2015 10:00 PM EST Reads: 2,693
“The year of the cloud – we have no idea when it's really happening but we think it's happening now. For those technology providers like Zentera that are helping enterprises move to the cloud - it's been fun to watch," noted Mike Loftus, VP Product Management and Marketing at Zentera Systems, in this SYS-CON.tv interview at Cloud Expo, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 31, 2015 10:00 PM EST Reads: 2,439
The 3rd International Internet of @ThingsExpo, co-located with the 16th International Cloud Expo - to be held June 9-11, 2015, at the Javits Center in New York City, NY - announces that its Call for Papers is now open. The Internet of Things (IoT) is the biggest idea since the creation of the Worldwide Web more than 20 years ago.
Jan. 31, 2015 07:30 PM EST Reads: 3,248
Want to enable self-service provisioning of application environments in minutes that mirror production? Can you automatically provide rich data with code-level detail back to the developers when issues occur in production? In his session at DevOps Summit, David Tesar, Microsoft Technical Evangelist on Microsoft Azure and DevOps, will discuss how to accomplish this and more utilizing technologies such as Microsoft Azure, Visual Studio online, and Application Insights in this demo-heavy session.
Jan. 31, 2015 05:15 PM EST Reads: 2,821