MRV Preps Reverse Split
CHATSWORTH, Calif. -- MRV Communications, Inc. (OTCQB: MRVC) ("MRV" or the "Company"), a leading provider of optical communications network infrastructure equipment and integration and managed services, today announced:
- The authorization for share repurchases of up to $10 million
- A declaration of a special cash dividend of $0.07 per share of Common Stock
- A one-for-twenty reverse stock split
"MRV continues to execute on its strategy to maximize value for its stockholders and drive long-term growth of its core business, Optical Communications Systems," said Kenneth Traub, Chairman of MRV's Board of Directors. "We are pleased that the recent closing of the sale of two of our non-core European subsidiaries has fortified our balance sheet, enabling us to return excess capital to stockholders while continuing to invest in strengthening and expanding OCS."
MRV Communications Inc. (Nasdaq: MRVC)