STR Holdings (STRI) Declares $0.85 Special Dividend; 69.7% Yield

STR Holdings (NYSE: STRI) declared a special dividend of $0.85 per share.

The dividend will be payable on January 2, 2014, to stockholders of record on December 26, 2014, with an ex-dividend date of January 5, 2015.

The annual yield on the dividend is 69.7 percent.

This is a very exciting day for STR and its shareholders. Today we shift our focus from closing the transaction to opening new opportunities created by the synergy between STR and Zhenfa. As one of the top solar engineering, procurement and construction companies in China, and a leading solar independent power producer as well, Zhenfa is ideally positioned to directly benefit from the use of STR's market-leading encapsulant technology and also to advocate its use to Chinese module manufacturers. Zhenfa's substantial investment reflects their confidence in STR's ability to become profitable and grow in the rapidly expanding solar industry," stated Robert S. Yorgensen, STR's President and Chief Executive Officer.

In addition to expected improvements to its encapsulant business, the Company will explore other potential strategic opportunities together with Zhenfa.

Zha Zhengfa, founder and Chairman of Zhenfa's parent corporation, stated: "We have a great deal of respect for STR as a pioneer in solar encapsulants and as a company that continues to innovate important new technology. We will work together with them to raise their profile among Chinese module manufacturers and expect to use solar modules incorporating STR's encapsulants in our own solar power stations to protect our long-term economic interests. We see many opportunities for collaboration with STR and will give them our full support to grow the Company for the benefit of all shareholders."

For a dividend history and other dividend-related data on STR Holdings (STRI) click here.

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