04 Mar 2016

Improving financial flexibility

- Maxim Jacobs
- 7 pages

As the Queen royalty streams approach expiry, PDL has taken steps to preserve its cash flow by announcing a dividend cut for Q1 to $0.05 per share (from $0.15 per share), which would save the company more than $65m on an annualized basis. This allows PDL BioPharma to meet its financial obligations and gives it greater financial flexibility to make either more deals, larger deals or both, as current market conditions are favorable to alternative financing.

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Improving financial flexibility

Published: 04 Mar 2016
Author: Maxim Jacobs
Pages: 7

As the Queen royalty streams approach expiry, PDL has taken steps to preserve its cash flow by announcing a dividend cut for Q1 to $0.05 per share (from $0.15 per share), which would save the company more than $65m on an annualized basis. This allows PDL BioPharma to meet its financial obligations and gives it greater financial flexibility to make either more deals, larger deals or both, as current market conditions are favorable to alternative financing.