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) 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

Quick Facts

Editors Pick
Hormel Foods has agreed to buy organic meat products maker Applegate Farms LLC for about $775 million, as consumers increasingly use natural and organic foods in their diet. Set-top box maker TiVo Inc. (TIVO), Tuesday reported a slight drop in profit for the first quarter despite an increase in revenue, as its bottom line was impacted by a one-time interest expense. Nevertheless, both earnings and revenues for the quarter trumped Wall Street estimates, on subscription growth,... Cloud-based human resource software maker Workday, Inc. said Tuesday after the markets closed that its first quarter net loss widened from last year, as higher costs and expenses more than offset a 57% increase in revenue. However, the company's adjusted loss per share was smaller than what analysts estimated and its quarterly revenue topped analysts' forecast.
comments powered by Disqus
RELATED NEWS
Trade AME now with 
Follow RTT