TheStreet, Inc. (TST) Declares $1.77 Special Dividend, Yielding 77%; Announces 1-for-10 Reverse Stock Split

TheStreet, Inc. (NASDAQ: TST) declared a special dividend of $1.77 per share. The dividend will be payable on April 22, 2019, to stockholders of record on April 15, 2019, with an ex-dividend date of April 23, 2019. The annual yield on the dividend is 77 percent.

In connection with the distribution, the Board of Directors has approved a 1-for-10 reverse stock split of TheStreet's common stock.

"This distribution allows us to return significant value to our stockholders at this time while also maintaining the flexibility and capital needed to effectively run the B2C business as we continue to explore strategic opportunities," commented Eric Lundberg, Chief Executive Officer and Chief Financial Officer of TheStreet. "We will also continue to evaluate our cash position and operating performance with an eye towards making an additional cash distribution of up to $0.08 later this year and we look forward to updating the market on our progress over the coming months."

The Company also announced that the Board of Directors approved a change in the Company's fiscal and tax year, which effective April 1, 2019, shall end on March 31 of each year, and a plan of partial liquidation with respect to its B2B operations. As a result, a portion of the distribution will be treated as a partial liquidation for federal income tax purposes with the remaining portion treated as a non-dividend distribution for US tax purposes.

For a dividend history and other dividend-related data on TheStreet, Inc. (TST) click here.

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