Communications Systems jumps on special dividend

Sunation Energy

13/09/2021 21:58

** Shares of connectivity infrastructure provider for
broadband networks  JCS.O  up as much as 6.96% at $7.22 in
extended trading 
    ** Co says its board has declared a special dividend of
$3.50 per share payable on Oct.15 to shareholders  urn:newsml:reuters.com:*:nBw98mT1sa
    ** JCS says aggregate amount of the special dividend is
~$34.0 mln, to be funded from the net proceeds of the sale of
co's Transition Networks and Net2Edge businesses
    ** Says it will provide an update to shareholders on pending
Pineable merger deal within the next several days
    ** Stock up ~48% YTD, as of last close

 (Reporting by Rithika Krishna in Bengaluru)
 ((Rithika.Krishna@thomsonreuters.com;))