Wi-LAN ex-dividend date is tomorrow

Wi-LAN CEO Jim Skippen. The Ottawa-based patent player has raised its dividend four times since first declaring one in 2009.

Wi-LAN CEO Jim Skippen. The Ottawa-based patent player has raised its dividend four times since first declaring one in 2009.

Ottawa-based patent player Wi-LAN (TSX:WIN) will pay a dividend of $0.04 per share to shareholders who own the stock prior to tomorrow’s ex-dividend date.

The company’s annual payout, which now stands at $0.16, has been raised four times since it first declared a dividend, in June of 2009.

In March, 2010, Wi-LAN’s board voted to raise it from $.05 to $.10. It did so again in March of 2012, raising it to $.12. Then in September of 2012, it was raised to $.14 before finally arriving at the current payout by hiking its dividend another two cents earlier this month.

On March 6th, Wi-LAN announced its fiscal 2012 results. For the year, the company’s GAAP earnings came in at a loss of $14.5-million on revenues of $88-million, down from the $105.8-million topline the company posted in 2011.

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Industrial Alliance Securities analyst Al Nagaraj, in a research update to clients following the results, said the absence of upfront fees from major licensing deals meant 2012 was a transition year for Wi-LAN. But Nagaraj says 2013 is shaping up to be a better year, noting that the Ottawa-based company has various legal actions pending against major companies such as Apple, HTC, Ericsson, HP, Dell, Sierra Wireless, BlackBerry and Toshiba. He says Wi-LAN has important patents covering WiFi, CDMA and digital TV technologies and he expects this will translate into success in the courtroom. Nagaraj currently has a BUY rating and $7.70 target on Wi-LAN.

One man who will be eligible for the dividend is Wi-LAN CEO Jim Skippen, who has made a series of insider purchases over the past several months.

At press time, shares of Wi-LAN on the TSX were down 1.7% to $4.55.

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About Nick Waddell

Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.

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