Altisource became a public company on August 10, 2009. Altisource and its predecessor companies have an extended heritage spanning decades in residential/commercial servicing, asset recovery management and customer relationship management.
No, the Board of Directors has not declared any dividend on Altisource's common stock. The timing and amount of future dividends, if any, will be determined by our Board of Directors (subject to prior approval of or subsequent ratification by our shareholders) and will be evaluated from time to time in light of our financial condition, earnings, growth prospects, funding requirements, financing arrangements, applicable law and other factors our Board of Directors deems relevant.
A transfer agent is a regulated entity entrusted to maintain and administer the company's stockholder records. The transfer agent for Altisource's common stock is American Stock Transfer & Trust Company. You can contact the transfer agent at the following address and telephone number:
American Stock Transfer & Trust Company
59 Maiden Lane
New York, New York 10038
Fax: 718-259-1144 http://www.amstock.com
No, certificates are not available. Shares of Altisource are issued electronically (in book-entry form), which eliminates the physical handling and safekeeping responsibilities inherent in owning physical stock certificates, and the need to return a duly executed stock certificate to effect a transfer. For information on transferring your Altisource shares, please contact our transfer agent.
Altisource separated from Ocwen Financial Corporation on August 10, 2009 at which time each Ocwen shareholder received one share of Altisource common stock for every three shares of Ocwen common stock held as of the close of business on the record date of August 4, 2009. Shareholders received a cash payment in lieu of any fractional shares.
Holders of Ocwen shares who received shares of Altisource as a result of the separation from Ocwen need to allocate a percentage of their tax basis between Ocwen Financial Corporation and Altisource Portfolio Solutions S.A. common stock. Ocwen has prepared a Tax Information Statement to assist shareholders. We recommend our Investors seek tax advice.
Each shareholder is urged to consult a tax advisor as to the specific tax consequences of the Distribution to that shareholder, including the effect of any U.S., state, local or foreign tax laws and of changes to applicable tax laws.