Control Devices, Inc. Declares 5-For-4 Stock Split and Cash Dividend.STANDISH, Maine--(BUSINESS WIRE)--May 1, 1998--Control Devices, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :SNSR) today announced a planned 5-for-4 stock split of the Company's outstanding Common Shares and a quarterly dividend of two cents ($.02) per share after giving effect to the stock split. This is Control Devices' first cash dividend and second stock split since becoming a public company in October 1996. Currently, the Company has approximately 6.6 million shares outstanding. The stock split entitles each shareholder to receive one additional share for each four outstanding Common Shares held of record as of the close of business on May 29, 1998. In addition, Control Devices will pay a quarterly cash dividend on its outstanding common shares, including the shares distributed pursuant to the stock split, equal to $.02 per share to shareholders of record on May 29, 1998. The shares and the cash dividend will be distributed on or about June 15, 1998. Bruce D. Atkinson, President and Chief Executive Officer of Control Devices stated "In view of Control Devices' profitability and strong balance sheet, the Company has decided to begin paying quarterly dividends in order to attract investors who desire some current income. In addition to providing wider distribution and greater liquidity, the Company believes the dividend and stock split will further increase Control Devices' visibility in the financial and investment community." Control Devices, Inc. is a leading supplier of automatically resetting circuit breakers Circuit breakers Measures instituted by exchanges to stop trading temporarily when the market has fallen by a certain percentage in a specified period. They are intended to prevent a market free fall by permitting buy and sell orders to rebalance. and sensors to the automotive market and of glass enclosed circuit breakers for the appliance market. In addition, the Company also supplies electronic ceramics to the wireless cellular and PCS (1) (Personal Communications Services) Refers to wireless services that emerged after the U.S. government auctioned commercial licenses in 1994 and 1995. This radio spectrum in the 1. telecommunications market. In Europe the Company distributes automotive and electronic components through its subsidiary, Realisation et Diffusion pour l'Industrie (RDI RDI - Receiver Data Interface ). The Company supplies its products to major OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and manufacturers such as GM, Ford, Mercedes, Chrysler, Volkswagen, Danfoss and Peugeot. Control Devices, whose corporate headquarters are in Standish, Maine Standish is a town in Cumberland County, Maine, United States that was settled in 1750.[1] The population was 9,285 at the 2000 census. It includes the villages of Standish Corner, Sebago Lake Village, and Steep Falls, and the localities known as Richville, Standish , also has operations in Caribou, Maine Caribou is a city in Aroostook County, Maine, United States. The population was 8,312 at the 2000 census. Caribou was incorporated on April 5, 1859 as the town of Lyndon from Eaton Plantation and part of half township H. ; Southfield, Michigan; Villepinte, France; and the Dominican Republic. CONTACT: Control Devices, Inc. 207/642-0243 |
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