Financial services firm First Albany Cos. (Albany, NY) announced that it will declare a special dividend as part of its plan to distribute most of its holdings in fuel cell company Plug Power Inc. (Latham, NY) to shareholders.
First Albany said that it will declare a special dividend of about one share of Plug Power common stock for every seven shares of First Albany stock. The record and distribution dates will be determined after the effective date of a registration statement filed by Plug Power with the US Securities and Exchange Commission in relation to the distribution.
