NACCO Industries, Inc. (NC) and Hyster-Yale Materials Handling, Inc. (HY) Friday announced the spin-off by NACCO of its materials handling business to its stockholders.
The companies noted that NACCO will distribute a dividend of one share of Hyster-Yale Materials Class A and one share of Hyster-Yale Materials Class B Common stock to holders of each share of NACCO Class A and Class B Common stock.
Hyster-Yale Class A Common stock has been approved for listing on the New York Stock Exchange. It will begin its first full day as an independent company and will begin trading its Class A Common stock on the NYSE from October 1.
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