AAON Adopts Dividend Plan, Suspends Stock Repurchases.TULSA Tulsa (tŭl`sə), city (1990 pop. 367,302), seat of Tulsa co., NE Okla., on the Arkansas River east of its junction with the Cimarron; inc. 1898. , Okla. -- AAON AAON American Association of Office Nurses , Inc. (Nasdaq:AAON). The Board of Directors of AAON, Inc., has voted to initiate a semi-annual cash dividend of $0.20 per share to the holders of the outstanding Common Stock of the Company as of the close of business on June June: see month. 12, 2006, the record date, payable on July 3, 2006. The Board also approved the suspension of the Company's current stock repurchase Stock repurchase A firm's repurchase of outstanding shares of its common stock. program (for 1,325,000 shares), on which a balance of 80,036 shares remains to be bought. Norman H. Asbjornson, AAON's President/CEO, stated, "We are extremely pleased to commence this dividend policy." He continued, "I believe we are poised on the threshold of a period of sustainable growth of both revenue and earnings and, despite increased capital expenditures to accommodate that growth, our free cash flow should enable us to support the dividend". In closing he stated, "We believe our stockholders should share the benefits of the Company's future growth." |
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