NCR to complete separation of Teradata

By Lisa Kerner

Charlotte, N.C., Aug. 28 - NCR Corp.'s board of directors finalized details of the Teradata Corp. spinoff, declaring a dividend of one share of common stock of Teradata for each share of NCR common stock and setting Sept. 30 as the date for distribution of Teradata common stock. The record date for the pro rata stock dividend is Sept. 14.

The Internal Revenue Service ruled that the spinoff will qualify as a tax-free distribution for U.S. federal income tax purposes to NCR and its stockholders. Teradata is expected to trade on the New York Stock Exchange under the trading symbol "TDC," with NCR's stock continuing to trade on the NYSE under the symbol "NCR."

"We are delighted to have reached this milestone in the process of creating an independent Teradata," said Mike Koehler, who will become president and chief executive officer of the newly independent public company.

"With companies and public entities around the globe increasingly turning to enterprise data warehouse solutions to drive success, Teradata is well positioned to generate value for shareholders."

Teradata is the enterprise data warehousing division of NCR, a technology company based in Dayton, Ohio.

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