Neutral Tandem (IQNT) Proposes One-Time Dividend; Approves $50M Buyback

Neutral Tandem, Inc. (Nasdaq: IQNT) plans to declare and pay a special one-time cash dividend in an amount between $4.80 and $5.65 per share, or between approximately $155 million and $180 million in aggregate, during the fall of 2012, subject to market and other conditions. We anticipate funding approximately $80 million of the special cash dividend from our existing cash balance, and approximately $75 million to $100 million from new debt financing.

The company also approved a $50 million stock repurchase program.

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