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iPass declares $20 mln extraordinary dividend

AP
REDWOOD SHORES, Calif. (AP) -- iPass Inc., an Internet access provider for mobile workers, on Tuesday declared an extraordinary cash dividend of $20 million, or 32 cents per share.

The dividend is payable on Sept. 17 to shareholders of record as of Aug. 31.

Shares of iPass were up 9 cents, or 5.4 percent, to $1.74 in after-hours trading on Tuesday. The stock was down 2 cents to $1.65 during the regular session.

That means if you BUY IPASS shares before 31 August you get the DIVIDEND, then

SELL them after Sept 17 once you bank the dividend. It's a NO BRAINER ;-)

Warren Buffett does this all the time...he's a smart cookie.