02 Nov. 2011
WILMINGTON, N.C., (November 2, 2011) - Pharmaceutical Product Development, Inc. (Nasdaq: PPDI) today announced that its board of directors declared a cash dividend for the fourth quarter of 2011 under its annual cash dividend policy. The quarterly cash dividend will equal $0.15 per share. The record date for the fourth quarter dividend is 5:00 p.m. Eastern Time on December 14, 2011, and the payment date is December 28, 2011.
The payment of the fourth quarter cash dividend is conditioned upon the closing of the merger pursuant to the previously announced definitive merger agreement dated October 2, 2011, between the company and affiliates of The Carlyle Group and affiliates of Hellman & Friedman LLC occurring after the record date of December 14, 2011.
The annual cash dividend policy and the payment of future quarterly cash dividends under that policy are subject to the continuing determination by the board of directors that the policy remains in the best interests of the company's shareholders and in compliance with applicable laws and agreements.