Ocwen Financial to distribute Altisource Portfolio shares on Aug. 10

By Lisa Kerner

Charlotte, N.C., July 20 - Ocwen Financial Corp. said on Aug. 10 its shareholders will receive a pro rate distribution of one share of Altisource Portfolio Solutions SA for every three shares of Ocwen common stock they hold as of July 30.

As of July 15, there were 67,512,096 shares of Ocwen common stock issued and outstanding, the company said.

Ocwen said its shares of common stock will continue to trade "regular way" on the New York Stock Exchange through the period leading up to the July 30 record date.

Altisource shares are expected to begin trading on the Nasdaq Global Select Market beginning on Aug. 10.

Based in West Palm Beach, Fla., Ocwen is an asset manager and business process outsourcing provider to the financial services industry that specializes in loan servicing, mortgage fulfillment and receivables management services.

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