The Board of Directors of Apogee Enterprises, Inc. of the United States has declared a stock split in the form of a 100% Common Stock dividend payable on 14 February 1997, to holders on record at 28 J…
The Board of Directors of Apogee Enterprises, Inc. of the United States has declared a stock split in the form of a 100% Common Stock dividend payable on 14 February 1997, to holders on record at 28 January 1997. Donald W. Goldfus, Chairman of the Board, President and Chief Executive Officer of Apogee, said that the stock dividend was declared “to broaden public interest in and improve trading liquidity of the Company“s stock.” After the dividend, there will be approximately 27,425,000 shares of Common Stock outstanding. Apogee Enterprises also announced that its Board of Directors has declared its regular quarterly cash dividend of US$ 0.09 per share of Common Stock payable on 12 February 1997 to shareholders of record on 28 January 1997. The payment date for the cash dividend has been set two days earlier than the payment date for the stock split to make clear that the cash dividend is being paid on a pre-split basis. The Board of Director“s intention is to maintain its current policy of paying a regular quarterly cash dividend unless circumstances otherwise require. Following the stock split, the new dividend rate would be US$ 0.045 per share.