Intevac announces 5.2c per share special cash dividend

Intevac (IVAC) announced that a one-time special cash dividend of 5.2c per share of common stock will be paid on March 28 to all stockholders of record as of the close of business on March 24. The one-time special cash dividend is being paid in connection with the proposed acquisition of Intevac by Seagate. Seagate has commenced a tender offer to acquire all of Intevac’s outstanding common stock for $4.00 per share in cash. The tender offer is scheduled to expire at one minute after 11:59 p.m., Eastern Time, on March 28. Intevac’s board of directors unanimously recommends that all stockholders tender their shares in the offer. Tendering shares into the Offer will not impair a stockholder’s right to receive the one-time special cash dividend.