logo
Share SHARE
FONT-SIZE Plus   Neg

AMETEK's Board Declares 3-for-2 Stock Split; Boosts Dividend 50% - Quick Facts

AMETEK Inc.'s (AME: Quote) board has declared a three-for-two stock split and approved a 50% increase in the quarterly cash dividend on its common stock. The three-for-two split of its common stock would result in the issuance of one additional common share for every two shares owned as of the record date. The new shares are payable on June 29, 2012, to shareholders of record on June 15, 2012.

Any fractional shares resulting from the stock split would be paid in cash based on the closing market price of AMETEK stock on the record date. By splitting its stock, AMETEK said it expects to broaden the stock's marketability and improve its trading liquidity.

Also, after reviewing the company's strong financial position and future expectations, AMETEK's board has decided to increase the quarterly dividend by 50%, to an indicated annual rate of $0.36 per share. The board declared the second quarter dividend of $.09 per share, payable on June 29, 2012 to shareholders of record on June 15, 2012.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
International Business Machines Corp. said Monday after the markets closed that its first quarter profit fell 2.4% from last year, as improved margins could not offset a 12% decrease in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. Norway is all set to shut down FM radio in 2017, Radio.no reported. The Nordic country will be the first to scrap as it plans a shift to Digital Audio Broadcasting. The trailer of Star Wars: The Force Awakens, the latest installment from epic space film franchisee created by George Lucas, has sent both fans and Disney investors into a frenzy. Walt Disney Co.'s (DIS) market capitalization, which now owns the Star Wars franchisee, was boosted by about $2 billion...
comments powered by Disqus
RELATED NEWS
Trade AME now with 
Follow RTT