Country Wide Transport Announces Payout of Second Liquidating Dividend.Business Editors EAST ROCHESTER East Rochester is the name of the following places in the United States:
Country Wide Transport Services Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CWTV CWTV Child Witness to Violence Program ) today announced payment of the second liquidating dividend Liquidating Dividend Payment by a firm to its owners from capital rather than from earnings. Notes: This isn't really a good thing. It would be preferable to have dividends come from earnings. to be made on March 1, 2000 to stockholders of record on Feb. 15, 2000. The second liquidating dividend will be 30 cents per common share. The Board of Directors directed this payment pursuant to approval of a plan of liquidation by stockholders on July 30, 1999. This liquidation is a result of the asset sale of the company's only operating subsidiary, Vertex Transportation Inc, to the C.H. Robinson Co., which was closed on August 2, 1999. The company anticipates the liquidation process and settlement of liabilities will take through the calendar year 2000, with one final distribution to stockholders. The company paid an initial distribution of 60 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 Sept. 30, 1999, and maintains its original estimate that the total liquidating dividend will be between 85 cents and $1.00 per common share. These distributions are considered liquidating dividends. Stockholders should consult with qualified tax consultants to determine the tax effect of these distributions. Country Wide Transport Services Inc. is a liquidating holding company. This news release contains forward-looking statements indicating that the company &uot;anticipates,&uot; &uot;expects&uot; or &uot;believes&uot; certain events or results that have not yet occurred. Such forward-looking statements are made pursuant to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995, Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended. Forward-looking statements involve known and unknown factors, risks and uncertainties which may cause the company's actual results in future periods to differ materially from the results that the company now anticipates or believes will come to pass. |
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