SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): September 1, 2011
ITEX Corporation
(Exact Name of Registrant as Specified in its Charter)
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Nevada
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0-18275
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93-0922994
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(State or other jurisdiction of incorporation)
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(Commission file number)
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(IRS employer identification number)
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3326 160th Avenue SE, Suite 100, Bellevue, WA
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98008
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(Address of principal executive offices)
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(Zip code)
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Registrant’s telephone, including area code (425) 463-4000
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N/A
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(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 8.01
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Other Events
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ITEX Corporation announced that its Board of Directors approved a quarterly cash dividend in the amount of 4 cents per share payable on September 20, 2011, to stockholders of record as of the close of business on September 9, 2011. This quarter’s dividend is equivalent to a 79% pay-out ratio based on average net income over the past 4 reported quarters. The yield is 4.00% based on a $4.00 stock price. This will be the Company’s 6th consecutive quarterly dividend, which has returned approximately $790,000 to stockholders since June 2010.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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ITEX Corporation
(Registrant)
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Date: September 1, 2011
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By:
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/s/ Steven White | |
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Steven White
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Chief Executive Officer
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