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May 13, 2010 (FinancialWire) — Itex Corp. (OTCBB: ITEX), a marketplace for cashless business transactions in North America, said that its board of directors has approved the initiation of a cash dividend to its shareholders.

The quarterly cash dividend of 2.5 cents per share will be paid on June 30, 2010, to shareholders of record at the close of business on June 15, 2010.

Itex said it plans to pay regular quarterly dividends of 2.5 cents per share, or 10 cents per share annually.

Washington-based Itex is a network of participating member businesses. Members make use of a distribution channel managed by franchisees, licensees and corporate-owned locations, by utilizing Itex dollars to exchange goods and services.  

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