On July 24, 2013, LSI announced the payment of our first ever quarterly dividend and our intention to pay a quarterly dividend going forward. Future dividends will be subject to the approval of our Board of Directors.
We expect that the record and payment dates for future dividends will fall in the third month of each calendar quarter. Exact dates will be determined when our Board of Directors declares a dividend. Please keep in mind that stock purchases and sales are “settled” three business days after they are executed. As a result, you must have acquired shares by the end of the third business day before a record date to receive the dividend.
If you hold shares at a brokerage firm, you don’t need to take action to receive the dividend. Payment will be automatically deposited by your broker in your account. If you hold shares through our transfer agent, Computershare, you will receive a check in the mail, unless you have made other arrangements with Computershare. If you hold shares through Computershare, you have the option of electing to receive your dividend payments through direct deposit to your bank account. Instructions for signing-up for direct deposit will be included with your dividend check from Computershare or you may call Computershare for assistance at 1-866-243-7347.
If your dividend check has been lost or stolen or you have not received it within 10 days of the published payment date, please contact Computershare at 1-866-243-7347. A replacement check will be issued. Once a dividend check is replaced, the original check is no longer valid and should be destroyed if located.
If you own stock in your own name (rather than through a brokerage account), you may contact LSI's transfer agent for answers to your questions. Contact:
PO Box 43023
Providence, RI 02940-3023
1-866-243-7347 - www.computershare.com/lsi
In the merger, each share of Agere common stock was converted into the right to receive 2.16 shares of LSI common stock. Any fractional shares otherwise issuable to stockholders of record were paid in cash at the rate of $10.44 per full share. If you hold your shares in an account with a brokerage firm or other nominee, check with that firm to see how it handled fractional shares.
Agere stockholders who held their shares in certificate form will receive instructions about how to exchange their Agere shares for LSI shares from Computershare, which is processing the exchange. Agere stockholders who held their shares in book-entry form will receive a Direct Registration Advice from Computershare. LSI stockholders continued to own their existing shares, which were not adjusted in the merger.
The transaction is intended to be a tax-free reorganization for United States federal income tax purposes. If the merger qualifies as a reorganization, Agere stockholders will not recognize any gain or loss, for federal income tax purposes, with respect to the shares of LSI common stock they receive in the merger. However, Agere's stockholders will recognize gain or loss on any fractional shares of LSI common stock for which cash is received in lieu of a fractional share.
Computershare Trust Company is LSI's transfer agent. You can call Computershare at 1-866-243-7347 (within the U.S.); 1-312-588-4147 (outside the U.S. and in Canada); 1-312-588-4110 (TTY for the hearing impaired), access Computershare's website at www.computershare.com/lsi or write to:
c/o Computershare Trust Company
P.O. Box 43023
Providence, RI 02940-3023