DETROIT — On May 16, the board of directors of Compuware Corp. (Nasdaq:CPWR) declared its first quarterly cash dividend of 12.5 cents per common share, to be paid June 19, to shareholders of record at the close of business on June 5.
“Today’s declaration by the Board begins to fulfill one of the important shareholder value creation actions Compuware announced in January, the return of capital to shareholders,” said Compuware CEO Bob Paul. “The initiation of a dividend reflects the momentum of the Company’s strategy and the progress we have made, including the successful transformation to high-growth businesses and the stabilization of our mainframe business. We are confident that this action, combined with the steps we are taking to reduce expenses and drive growth and profitability, will provide significant near-term return as well as future upside to our shareholders.”
More at www.compuware.com.