Amar Bose makes stock donation to MIT

Dr. Amar Bose, Bose Corp.'s founder, has given to MIT the majority of the stock of Bose Corp. in the form of non-voting shares.

MIT will receive annual cash dividends on those shares when dividends are paid by Bose Corp.; those cash dividends will be used by MIT to sustain and advance MIT’s education and research mission.

Under the terms of the gift, MIT cannot sell its Bose shares and will not participate in the management or governance of the company.