MILPITAS, Calif.-- JDSU (NASDAQ: JDSU) today announced several key dates in connection with the separation of its Communications and Commercial Optical Products business segment (“CCOP”) as a separate public company to be named Lumentum Holdings Inc., and the special dividend distribution of approximately 80.1% of Lumentum’s common stock to JDSU shareholders, subject to the conditions set forth in Lumentum’s Registration Statement on Form 10 as filed with the Securities and Exchange Commission on February 26, 2015, as amended (Form 10).
“By operating as two independent companies, we believe Lumentum and Viavi Solutions will each be able to leverage a strong history while being more flexible and better positioned to capitalize on new opportunities in their respective markets,” said Tom Waechter, president and chief executive officer of JDSU, and CEO-designate for Viavi Solutions. “We look forward to completing the final steps in this process and launching exciting, new chapters for Lumentum and Viavi Solutions.”
For every five shares of JDSU common stock held, JDSU shareholders will receive one share of Lumentum common stock. Shareholders will receive cash in lieu of fractional shares.
The special dividend distribution is expected to be effective at 12:01 am on Saturday, August 1, 2015. The distribution will be paid on the first trading day thereafter, Monday, August 3, 2015, to JDSU shareholders of record as of the close of business on July 27, 2015 who continue to hold shares until the ex-dividend date.
JDSU (Nasdaq: JDSU; Toronto: JDU)