Breed declares quarterly dividend.LAKELAND, Fla.--(BUSINESS WIRE)--June 21, 1996--The Board of Directors of BREED Technologies Inc. (NYSE NYSE See: New York Stock Exchange :BDT BDT In currencies, this is the abbreviation for the Bangladesh Taka. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) declared a regular quarterly dividend of 7 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 common stock. The dividend is payable on July 24, 1996 to stockholders of record as of July 3, 1996 and represents a payout on an annual basis of 13 percent of the last four fiscal quarter net earnings. "BREED's commitment to future growth includes continued expansion in non-US markets, particularly Europe and the Pacific Rim Pacific Rim, term used to describe the nations bordering the Pacific Ocean and the island countries situated in it. In the post–World War II era, the Pacific Rim has become an increasingly important and interconnected economic region. ," said Allen K. Breed, Chairman and Chief Executive Officer. "With our growing investments and acquisitions in these markets, the company has established a holding company, BREED Europe, to support customer requirements and manage European operations." BREED has acquired five companies in the past two years, four in the area of electronic sensor components and subassemblies and the fifth in the area of steering wheels and car accessories. "The company will continue to seek value-added acquisitions that are consistent with our strategy to increase vertical integration and expand into related automotive systems, providing a solid foundation for future sales, earnings growth and shareholder value," said Breed. BREED produces a complete line of occupant safety systems, including inflators, airbag modules, integrated steering wheels and sensing systems. The company's products are on more than 290 models from 40 car companies for this model year. Headquartered in Lakeland, BREED operates facilities in England, Finland, France, Germany, Hungary, Italy, Japan, Mexico and the United States Relations between the United States and Mexico are among the most important and complex that each nation maintains. They are shaped by a mixture of mutual interests, shared problems, and growing interdependence. . CONTACT: BREED Technologies Inc., Lakeland Media Relations Investor Relations Investor relations The process by which the corporation communicates with its investors. Lisa Spinazzola 941/668-6049 941/668-6464 |
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