Courier Corporation Declares 3-for-2 Stock Split and Quarterly Cash Dividend.Business Editors NORTH CHELMSFORD Chelmsford, city, England Chelmsford, city (1991 pop. 91,109), county seat of Essex, SE England. It is a market center (especially for cattle) for the surrounding agricultural district. , Mass.--(BUSINESS WIRE)--Nov. 6, 2003 The Board of Directors of Courier A monospaced typeface originating from the typewriter that is commonly used for letters. It is still considered by many to be the "appropriate" typeface for business correspondence. Corporation (Nasdaq: CRRC CRRC Cool Roof Rating Council CRRC Combat Rubber Raiding Craft CRRC Caucasus Research Resource Center CRRC California Refuse Removal Council CRRC Chesapeake Regional Ranges Cooperative CRRC Construction Requirements Review Committee CRRC Combat Rigid Raiding Craft ), today declared a three-for-two split of its common stock. The split will be effected in the form of a 50% stock dividend to be distributed on December December: see month. 5, 2003 to shareholders of record on November 17, 2003. In addition, the Board of Directors declared a quarterly cash dividend of 13.125 cents per pre-split share of common stock. The dividend will be paid on December 5, 2003, prior to the effect of the stock split, to shareholders of record on November 17, 2003. The amount of the dividend is 17% higher than the 11.25 cents per pre-split share of common stock declared in the previous quarter. Following the stock split, there will be approximately 8 million shares outstanding. In announcing the dividend increase, Courier Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. James F. Conway III said, "We're pleased to provide our shareholders with a seventh consecutive year of double-digit dividend growth. It is particularly gratifying grat·i·fy tr.v. grat·i·fied, grat·i·fy·ing, grat·i·fies 1. To please or satisfy: His achievement gratified his father. See Synonyms at please. 2. in the wake of yet another challenging year for our industry and for the economy as a whole. We believe it reflects the benefits of our strategic focus and consistent execution--qualities which should continue to serve us well as the economy recovers." About Courier Corporation Courier Corporation publishes, prints and sells books. Headquartered in North Chelmsford, MA, Courier has two lines of business: full-service book manufacturing and specialty publishing. For more information, visit www.courier.com. |
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