Burlington Resources Announces 2-for-1 Stock Split and Declares Quarterly Dividend on Common Stock.Energy Editors/Business Editors HOUSTON--(BUSINESS WIRE)--Jan. 21, 2004 The board of directors of Burlington Resources Burlington Resources, is an American oil and gas company. Their headquarters are in Houston, Texas. Based in Houston, Texas, BR has major offices located in Calgary, London, Farmington, Midland and Fort Worth. Inc. (NYSE NYSE See: New York Stock Exchange :BR)(TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :B) today announced a 2-for-1 split on the company's common stock in the form of a share distribution, subject to shareholder approval of an amendment to the company's Certificate of Incorporation certificate of incorporation n. some states issue a certificate to prove a corporation's existence upon the filing of Articles of Incorporation. In most states the Articles are sufficient proof. to increase the number of authorized shares Authorized shares Number of shares authorized for issuance by a firm's corporate charter. of the company's common stock to 650 million shares from the current level of 325 million shares. Shareholders will consider the matter at the company's Annual Meeting of Stockholders on April 21, 2004. The stock split would be payable on June 1, 2004 to shareholders of record on May 5, 2004. In addition, the board declared a quarterly dividend of 15 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 on a pre-split basis, payable on April 9, 2004, to shareholders of record on March 10, 2004. "The stock dividend reflects the company's strong business performance, as well as confidence in our future opportunities," said Bobby S. Shackouls, Burlington Resources chairman, president and chief executive officer. "Our strong dividend program, as well as our ongoing share repurchase Share Repurchase A program by which a company buys back its own shares from the marketplace, reducing the number of outstanding shares. This is usually an indication that the company's management thinks the shares are undervalued. program, confirm our commitment to creating value for shareholders." Burlington Resources ranks among the world's largest independent oil and gas companies, and holds one of the industry's leading positions in North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. natural gas reserves and production. Headquartered in Houston, Texas, the company conducts exploration, production and development operations in the U.S., Canada, the United Kingdom, Africa, China and South America. For additional information see the Burlington Resources Web site at www.br-inc.com. FORWARD-LOOKING STATEMENTS This press release may contain projections and other forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended. Any such projections or statements reflect the company's current views with respect to future events and financial performance. No assurances can be given, however, that these events will occur or that such projections will be achieved and actual results could differ materially from those projected. A discussion of important factors that could cause actual results to differ materially from those projected is included in the company's periodic reports filed with the Securities and Exchange Commission. |
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