Oracle’s CEO and largest stockholder did not participate in the deliberation or the vote on this matter. This accelerated dividend is intended by the Board to be in lieu of quarterly dividends Oracle would have otherwise announced with its quarterly earnings results for the second, third and fourth quarters of fiscal year 2013, and that would have been paid in calendar year 2013.
This accelerated dividend will be paid to stockholders of record as of the close of business on December 14, 2012, with a payment date of December 21, 2012.
The next opportunity for the Board to consider and approve the declaration of a dividend will be when Oracle announces its earnings results for the first quarter of fiscal year 2014 which ends on August 31, 2013.
Source: Oracle Corp.
[Thanks to MacDailyNews readers too numerous to mention individually for the heads up.]
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