DOLLAR GENERAL ANNOUNCES 5-FOR-4 STOCK SPLIT INCREASES DIVIDEND PAYOUT BY 25%.NASHVILLE, Tenn.--(BUSINESS WIRE)--Feb. 24, 1998--Dollar General Corporation (NYSE NYSE See: New York Stock Exchange : DG) announced that its Board of Directors has declared a 5-for-4 stock split on the company's Common Stock. In conjunction with that action, the Board maintained the cash dividend of $.04 per share on all outstanding shares, thereby increasing the dividend income to its shareholders by 25 percent. 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. Cal Turner, Jr., made the announcement saying, "We had a great year in 1997, and our board of directors believes we can do an even better job of being a customer-driven distributor of the consumable A material that is used up and needs continuous replenishment, such as paper and toner. "The low-tech end of the high-tech field!" basics in 1998. This stock split and increase in our cash dividend is evidence of their confidence in our future prospects." As a result of the stock split, each shareholder of record at the close of business on March 9, 1998, will receive one additional share of Common Stock for each four shares of Common Stock held on that date. The new shares will be distributed on or about March 23, 1998. The Board of Directors declared a quarterly dividend of $.04 per share on the increased number of common shares outstanding after giving effect to the 5-for-4 stock split. The 25 percent increase in the cash dividend income to the shareholders will take effect when the quarterly dividend is paid on March 23, 1998 to shareholders of record at the close of business on March 9, 1998. This is the ninth 5-for-4 stock split in the last seven years. Dollar General is a chain of more than 3,169 neighborhood stores operating in 24 states, with distribution centers in Kentucky Kentucky, state, United States Kentucky (kəntŭk`ē, kĭn–), one of the so-called border states of the S central United States. It is bordered by West Virginia and Virginia (E); Tennessee (S); the Mississippi R. , Georgia, Oklahoma and Virginia. This press release contains historical and forward-looking information. The forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. 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. The Company believes the assumptions underlying these forward-looking statements are reasonable; however, any of the assumptions could be inaccurate, and therefore, actual results may differ materially from those projected in the forward-looking statements due to certain risks and uncertainties, including, but not limited to, general transportation and distribution delays or interruptions, inventory risks due to shifts in market demand, changes in product mix, interruptions in suppliers' business, and costs and delays associated with building, opening and operating new distribution centers and stores. The Company undertakes no obligation to publicly release any revisions to any forward-looking statements contained herein to reflect events or circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or occurring after the date released or to reflect the occurrence of unanticipated events. CONTACT: Dollar General Corporation, Nashville Kiley Fleming (Investor), 615/783-2014 or Cabot Pyle (Media), 615/783-2028 URL URL in full Uniform Resource Locator Address of a resource on the Internet. The resource can be any type of file stored on a server, such as a Web page, a text file, a graphics file, or an application program. : http://www.dollargeneral.com |
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