iPass to pay special dividend of $0.16 per share and buy back shares

By Lisa Kerner

Charlotte, N.C., Nov. 5 - iPass Inc. announced it plans to distribute $10 million of capital to stockholders as a special cash dividend of $0.16 per share in December.

The company said it is also launching a $10 million stock buyback program.

iPass will dividend-out to stockholders any remaining portion of the $10 million that has not been used to repurchase iPass shares by March 31, 2011, according to a form 8-K filing with the Securities and Exchange Commission.

In September, iPass paid a special cash dividend of $0.32 per share, or $20 million, to its shareholders, the filing said.

iPass is a Redwood Shores, Calif.-based provider of software-enabled enterprise connectivity for remote and mobile workers.

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