Merrimack Pharmaceuticals Inc (NASDAQ:MACK) Announces The $140M Special Dividend In Line With The Latest Completed Asset Sale


Merrimack Pharmaceuticals Inc (NASDAQ:MACK) has broken its silence by making the announcement regarding the decision by its Board of Directors to finally declare and authorize a special cash dividend of $140 million on the provider’s common stock.

The sale of Ipsen was completed on April 3, 2017 and it is from those proceeds that the company will be able to finish up the payment of the special dividend. Most of the companies investors agreed with the company’s decision citing the move as a necessary one since it would go a long way towards helping the high end provider attain its business equilibrium.

May 26, 2017 according to some company insiders is the deadline for the special dividend payment. The ex-dividend date associated with special dividend is specially set on May 30, 2017. The tax treatment of holding common stock to a given stockholder will be determined by the stockholder’s exact circumstances in relation to tax.

The company has recently been sending out signals urging all its customers to go ahead and make objective consultations with their respective tax advisors. As a matter of fact, they will be seeking to understand the tax consequences that they may incur in relation to the particular investments that they make.

The Pharmaceutical companies, just like the rest of the companies face major challenges in the quest to climb the business success “ladder.”The world is experiencing a great metamorphosis in terms of technological advancements which are sparking major business dynamics worldwide. Merrimack Pharmaceuticals Inc has not been spared either and it continues to catch up with the top industry leaders.

According to one of the company’s top executives, competition is a healthy thing when looked from a good perspective since it helps provide a major lift to the quality of services those patients receives. In addition, the company is empowered in such a way that it is able to generate high revenues which are then use to carry out expansion activities.

A statement released by some top analysts working with the high end provider confirmed that the company has lately made tremendous steps in the direction of building investor confidence.