Falorni Tech Glass Melting Technology
Filtraglass

Gentex declares 100% stock dividend

4 June 1998: At the annual meeting of shareholders of the US producer of automatic dimming vehicle mirrors and fire protection products, Gentex Corporation, the company announced a two-for-one stock s…

4 June 1998: At the annual meeting of shareholders of the US producer of automatic dimming vehicle mirrors and fire protection products, Gentex Corporation, the company announced a two-for-one stock split effected in the form of a 100% common stock dividend for each outstanding share of the company“s common stock, par value US$ 0.06 per share. This stock dividend will be issued on 19 June 1998, to shareholders of record at the close of business on 5 June 1998. This is the third time in five years that the Zeeland, Michigan-based manufacturer of automatic-dimming mirrors and fire protection products has issued a 100% common stock dividend. “We are very pleased that the company“s continued strong performance has allowed the Board of Directors to approve this stock split,” said Gentex Executive Vice President Kenneth La Grand. “The Board“s endorsement of this action is a strong indication of our confidence in the long-term growth prospects for this company.” Any shareholder who owns Gentex shares as of the close of business on 19 June 1998, will receive the 100% common stock dividend. However, any shareholder who sells Gentex shares from the record date (5 June 1998) to the close of business on the issue date (19 June 1998) should check with his/her broker to determine their eligibility for this stock dividend, the company said.

Sign up for free to the glassOnline.com daily newsletter

Subscribe now to our daily newsletter for full coverage of everything you need to know about the world glass industry!

We don't send spam! Read our Privacy Policy for more information.

Share this article
Related news