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.