Amcast Corrects and Replaces Previous Dividend and Shareholder Rights Plan Announcement.DAYTON, Ohio--(BUSINESS WIRE)--Feb. 24, 1998--Amcast Industrial Corporation (NYSE NYSE See: New York Stock Exchange :AIZ AIZ Lake of the Ozarks, Missouri (Lee C. Fine Memorial Airport) AIZ Air Intercept Zone AIZ Anti Imperialistische Zelle(n) (German: Anti-Imperialistic Cell; now defunct terrorist group) ) announced today that the Board of Directors has declared a quarterly dividend of 14 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. on the company's common stock. The dividend is payable March 26 to shareholders of record March 11. Dividends paid by Amcast have been uninterrupted since 1936. The company also reported that its Board of Directors has amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. and renewed its shareholder rights plan, which was scheduled to expire expire /ex·pire/ (ek-spi´er) 1. to exhale. 2. to die. ex·pire v. 1. To breathe one's last breath; die. 2. To exhale. on February 28, 1998. The expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of the rights plan has been extended to February 23, 2008. The renewed and amended rights plan is intended to ensure that all shareholders receive fair value for their investment in the company and to provide the directors with sufficient time to evaluate fully any takeover offers. The rights plan was not renewed in response to any specific takeover threat, and the Board of Directors is not aware of any efforts to acquire the company. Under the amended and restated plan, each Amcast shareholder continues to have one right for each common share owned. The rights are not presently exercisable and do not trade separately from Amcast's common shares. Within 20 days after a person acquires 15 percent or more of Amcast's common shares, the rights become exercisable unless the board acts to extend the 20-day period or redeem redeem v. to buy back, as when an owner who had mortgaged his/her real property pays off the debt. The term also refers to paying the amount due and all charges after a foreclosure (due to failure to make payments when due) has begun. the rights. If the rights become exercisable, each right entitles the holder (other than a holder of 15 percent or more of Amcast's shares) to purchase one common share of Amcast for $1 per share. Amcast Industrial Corporation is a leading manufacturer of technology-intensive metal products. Its two business segments are brand name FLOW CONTROL PRODUCTS marketed through national distribution channels, and ENGINEERED COMPONENTS for original equipment manufacturers. The company serves four major sectors of the economy: automotive, construction, industrial, and aerospace. CONTACT: Amcast Industrial Corporation Media: Phyllis Naylor, 937/291-7011 Investors: Michael Higgins, 937/291-7015 |
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