AngioDynamics spin-off nears completion

E-Z-EM announced Aug. 19 a common stock dividend of 9.2 million shares for its subsidiary AngioDynamics. The dividend, payable on Oct. 30 to E-Z-EM shareholders of record on Oct. 11, will mark AngioDynamics' debut as a separate company. The announcement came after E-Z-EM received a ruling from the IRS confirming that the dividend would be free from federal income taxes to E-Z-EM and its stockholders, except for any cash received by stockholders instead of a fractional share. AngioDynamics designs, develops, manufactures, and markets medical devices used in minimally invasive, image-guided procedures to treat peripheral vascular disease.