Crossroads Systems Provides Additional Information on Special Dividend

Rhea-AI Summary

Crossroads Systems, Inc. (OTCQX: CRSS) announced that it will pay a special cash dividend of $40 per share on July 26, 2021, to shareholders on record as of July 19, 2021. The total special dividend payment amounts to approximately $238.9 million. This dividend reflects the company's focus on enhancing shareholder value and promoting economic vitality.

Positive

• Declaration of a special cash dividend of $40 per share enhances shareholder value.
• Total special dividend payment of approximately $238.9 million underscores the company's financial strength.

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• None.

DALLAS, July 15, 2021 /PRNewswire/ -- Crossroads Systems, Inc. (OTCQX: CRSS) ("Crossroads" or the "Company"), a holding company focused on investing in businesses that promote economic vitality and community development, today provided additional information with respect to its special cash dividend announced on July 8, 2021.  The special dividend of $40 per share will be paid on its outstanding shares of Common Stock. This dividend will be payable on July 26, 2021 to stockholders of record at the close of business on July 19, 2021. The total amount of the special dividend payment will be approximately $238.9 million, based on the current number of shares outstanding.

About Crossroads Systems
Crossroads Systems, Inc. (OTCQX: CRSS) is a holding company focused on investing in businesses that promote economic vitality and community development.

Important Cautions Regarding Forward-Looking Statements
This press release includes forward-looking statements that relate to the business and expected future events or future performance of Crossroads Systems, Inc. and Capital Plus Financial and involve known and unknown risks, uncertainties and other factors that may cause its actual results, levels of activity, performance or achievements to differ materially from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Words such as, but not limited to, "believe," "expect," "anticipate," "estimate," "intend," "plan," "targets," "likely," "will," "would," "could," and similar expressions or phrases identify forward-looking statements. Forward-looking statements include, but are not limited to, statements about Crossroads Systems' and Capital Plus Financial's ability to implement their business strategy, and their ability to achieve or maintain profitability. The future performance of Crossroads Systems and Capital Plus Financial may be adversely affected by the following risks and uncertainties: economic changes affecting homeownership in the geographies where Capital Plus Financial conducts business, developments in lending markets that may not align with Capital Plus Financial's expectations and that may affect Capital Plus Financial's plans to grow its portfolio, variations in quarterly results, developments in litigation to which we may be a party, technological change in the industry, future capital requirements, regulatory actions or delays and other factors that may cause actual results to be materially different from those described or anticipated by these forward-looking statements. For a more detailed discussion of these factors and risks, investors should review Crossroads Systems' annual and quarterly reports. Forward-looking statements in this press release are based on management's beliefs and opinions at the time the statements are made. All forward-looking statements are qualified in their entirety by this cautionary statement, and Crossroads Systems undertakes no duty to update this information to reflect future events, information or circumstances.

©2020 Crossroads Systems, Inc., Crossroads and Crossroads Systems are registered trademarks of Crossroads Systems, Inc. All trademarks are the property of their respective owners.

Company Contact:
Crossroads Systems
ir@crossroads.com 

Investor Relations Contact:
Gateway Investor Relations
Matt Glover and Tom Colton
CRSS@gatewayir.com
(949) 574-3860

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SOURCE Crossroads Systems

FAQ

What is the special dividend amount for CRSS?

The special dividend amount for Crossroads Systems (CRSS) is $40 per share.

When will the special dividend for CRSS be paid?

The special dividend will be paid on July 26, 2021.

What is the record date for the CRSS special dividend?

The record date for the special dividend is July 19, 2021.

What is the total amount of the special dividend payment for CRSS?

The total special dividend payment amounts to approximately $238.9 million.