Comdisco to pay dividend to stockholders, rights holders

By Ellen Chang

Houston, March 2- Comdisco Holding Co. said Wednesday that its board of directors has declared a cash dividend of $13 per share on the outstanding shares of its common stock, payable on March 24 to holders of record on March 14.

Comdisco has 4 million shares outstanding. Comdisco intends to treat the dividend distribution for federal income tax purposes as one in a series of liquidating distributions in complete liquidation of the company.

Comdisco also said that it will make a cash payment of $0.1456 per right on the contingent distribution rights, payable on March 24 to holders of record as of March 14. Comdisco has 152.3 million contingent distribution rights outstanding.

The company also confirmed, as previously disclosed in its Form 10-Q for the fiscal quarter ended Dec. 31, 2004, that on Feb. 14 a distribution of $23.9 million of cash and associated stock was paid to creditors in the bankruptcy estate of Comdisco, Inc. from the disputed claims reserve. The entire amount was redistributed to general unsecured creditors in a supplemental distribution.

The present value of distributions to the initially allowed general unsecured creditors of the bankruptcy estate of Comdisco, Inc. is $3.592 billion and the present value recovery to general unsecured creditors is 99%. The remaining estimated disputed claim amount totals $59 million.

Comdisco emerged from Chapter 11 on Aug. 12, 2002. Comdisco Holding is a Rosemont, Ill., company formed to sell the assets of its predecessor Comdisco, Inc. and distribute the proceeds.

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