8-K

UNITED STATES

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):    March 3, 2009

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           Ibis Technology Corporation           

 (Exact name of Registrant as Specified in its Charter)

Massachusetts	000-26824	04-2987600
(State or other jurisdiction  of incorporation)	(Commission  File Number)	(I.R.S. Employer  Identification No.)

32 Cherry Hill Drive

Danvers, Massachusetts  01923

 (Address of Principal Executive Offices)

(978) 777-4247

 (Registrant’s telephone number, including area code)

——————————————————————

 (Former Name or Former Address, if Changed Since Last Report)

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))

Item 8.01.      Other Events.

On March 3, 2009, Ibis Technology Corporation (the “Company”) issued a press release announcing that the Company had paid a liquidating dividend of $0.07 per share on each outstanding share of the Company’s common stock on February 27, 2009, payable to stockholders of record as of February 23, 2009.  A copy of this press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01.      Financial Statements and Exhibits

      (d) Exhibits.

Exhibit No.	Description
99.1	Press Release dated March 3, 2009

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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.

	IBIS TECHNOLOGY CORPORATION
Date:    March 3, 2009	By:	/s/ Craig R. Jalbert
		Name:   Craig R. Jalbert
		Title:     President and Chief Administrative Officer

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EX-99.1

EXHIBIT 99.1

News Release

IBIS TECHNOLOGY CORPORATION PAYS LIQUIDATING DIVIDEND TO SHAREHOLDERS

FOXBOROUGH, Mass., March 3, 2009—Ibis Technology Corporation (“Ibis” or the “Company”) (IBIS.PK) today announced that the Company paid a liquidating dividend of $0.07 per share on each outstanding share of the Company’s common stock on February 27, 2009, payable to stockholders of record as of February 23, 2009.  Ibis made the payment to Continental Stock Transfer & Trust Company, who serves as the transfer agent and paying agent for the Company.  Ibis stockholders are reminded that it may take up to four weeks for their portion of the distribution to be credited to their brokerage accounts or to receive a check directly from the paying agent.

Effective as of February 23, 2009, Ibis closed its stock transfer books and discontinued recording transfers of shares of its common stock, except for transfers by will, intestate succession or operation of law.

The liquidating dividend that has been paid represents a partial distribution of funds remaining at the Company, which filed Articles of Voluntary Dissolution on February 13, 2009.  Pursuant to Massachusetts law, the Company has established a reserve to pay wind down costs and other anticipated and unanticpated expenses.  Although no assurances can be given, the Company hopes to make at least one additional liquidating distribution out of any remaining funds to the holders of record of its common stock as of February 23, 2009.  Though the timing and amount of any future liquidating distribution or distributions are not yet known, the Company does not presently anticipate making a final liquidating distribution prior to February 2012.  Company stockholders are reminded that in order to receive this final distribution, that they must notify CONTINENTAL STOCK TRANSFER & TRUST COMPANY, 17 Battery Place, New York, NY 10004 of any future changes their mailing addresses.

Statement under the Private Securities Litigation Reform Act

This press release may contain forward-looking statements within the meaning of the federal securities laws, including statements regarding the timing and amount of potential future liquidating distribution payments and amounts available for distribution to holders of common stock.  These statements reflect the Company’s current expectations with respect to future events and are based on its management’s current assumptions and information currently available.  Actual results may differ materially.  There can be no assurance that the Company’s expectations will be achieved.  Please refer to the risk factors detailed in the Company’s periodic reports and registration statements as filed with the Securities and Exchange Commission, as well as in the Company’s definitive proxy statement filed on November 25, 2008.  These forward-looking statements are neither promises nor guarantees.  Investors are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.  Ibis undertakes no responsibility to revise or update any such forward-looking information.

Company Contact:

Craig R. Jalbert

President

Ibis Technology Corporation

Phone: (508) 543-1720

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