CENTRAL PARKING DECLARES 3-FOR-2 STOCK SPLIT; ANNOUNCES REGULAR QUARTERLY CASH DIVIDEND OF $0.015 PER SHARE.NASHVILLE Nashville, city (1990 pop. 487,969), state capital, coextensive with Davidson co., central Tenn., on the Cumberland River, in a fertile farm area; inc. as a city 1806, merged with Davidson co. 1963. , Tenn.--(BUSINESS WIRE)--Nov. 24, 1997--Central Parking Corporation today announced that its Board of Directors has declared a 3-for-2 stock split to be effected in the form of a 50% stock dividend. The Board declared the split in addition to approving a regular quarterly cash dividend of $0.015 (one and a half cents HALF CENT, money. A copper coin of the United States, of the value of one two-hundredth part of a dollar, or five mills. It weighs eighty-four grains. Act of January 18, 1837, s. 12, 4 Sharswood's cont. of Story's L. U. S. 2523, 4. Vide Money. ) per share. The stock dividend will have a record date of December 5, 1997 and will each be distributed to shareholders on December 12, 1997. The cash dividend, which is unchanged from the previous quarterly rate of $0.0225 per share adjusted for the stock split, will have a record date of December 22, 1997 and will be distributed on January 2, 1998. The cash dividend will be payable on both the current shares outstanding as well as the additional shares to be issued through the stock dividend. Central Parking Corporation has approximately 17.5 million shares outstanding. Monroe J. Carell, Jr., chairman and chief executive officer, remarked, "This marks the second stock split that we have been able to distribute since the Company's initial public offering in October 1995. Central Parking Corporation's progress in fiscal 1997 has solidly extended the Company's long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. record of increasing sales and earnings. We are pleased that investors' endorsement of this performance and outlook for continued gains have enabled the Board to take this action. We believe that the additional shares outstanding as a result of the stock dividend will further benefit shareholders by increasing the trading activity and liquidity of Central Parking Corporation's shares." Central Parking Corporation, headquartered in Nashville, Tennessee “Nashville” redirects here. For other uses, see Nashville (disambiguation). Nashville is the capital and the second most populous city of the U.S. state of Tennessee, after Memphis. , is a leading provider of parking services in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Presently, the Company operates more than 1,800 parking facilities containing over 736,000 spaces at locations in 34 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). , Canada, Puerto Rico Puerto Rico (pwār`tō rē`kō), island (2005 est. pop. 3,917,000), 3,508 sq mi (9,086 sq km), West Indies, c.1,000 mi (1,610 km) SE of Miami, Fla. , the United Kingdom, Mexico, Germany, Malaysia, Chile and Spain. The Company has a business development office in Amsterdam. CONTACT: Central Parking Corp., Nashville Stephen Tisdell, 615/297-4255 ext. 265 or stisdell@parking.com |
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