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Acrux Limited (ASX: ACR) Acrux Declares First Dividend of 60 cents per share

Acrux Declares First Dividend of 60 Cents per Share
- Unfranked dividend of 60 cents per share, exempt from tax
- Record date 6 April 2011, Ex-div date 31 March 2011
- Expected payment date 19 April 2011
- Shareholders encouraged to make direct credit election with share registry prior to record date
- Total distribution $100 million
- Axiron launch in United States is imminent
Acrux (ASX: ACR) today declared its first dividend - a special distribution of 60 cents per share. The dividend, totalling approximately $100 million, follows the receipt of US$137 million from Eli Lilly, comprising the first two milestone payments under the exclusive worldwide licence and distribution agreement for Axiron®. Acrux is eligible to receive further sales milestone payments of up to US$195 million and will receive royalties on worldwide sales of Axiron. The Axiron launch in the United States is imminent and marketing applications for other territories are currently being prepared.
“We are delighted to be able to implement the plan that was set out at the Annual General Meeting for a first dividend to shareholders of 60 cents per share”, said Acrux CEO Richard Treagus. “We expect sales of Axiron in the United States will commence very soon” he added.
The record date for the dividend will be 6 April 2011, with an expected payment date of 19 April 2011.
Important information regarding the dividend and taxation is contained in the ASX announcement.
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