Immersion announces 10c special cash dividend and new $50M stock buyback

Immersion reported management changes, a special cash dividend and a new stock repurchase program. Effective immediately, Executive Chairman Eric Singer has been appointed President and CEO and will continue to serve as Chairman of the Board. Immersion’s Board of Directors has also declared a special one-time dividend of 10c per share, based on the Company’s strong operating performance in 2022. This dividend is in addition to a new recently declared quarterly dividend program of 3 cents per share. In addition, Immersion’s Board of Directors approved a new stock repurchase program of up to $50M for 2023. This new stock repurchase program replaces the stock repurchase program that had been in place in 2022 under which the Company repurchased a total of 2,542,065 shares .