Mylan announces stock split and cash dividend increase.PITTSBURGH--(BUSINESS WIRE)--June 28, 1995--Milan Puskar, chairman, CEO and president of Mylan Laboratories Inc., announced today at the annual shareholders meeting in Morgantown Morgantown, city (1990 pop. 25,879), seat of Monongalia co., N W.Va., near the Pa. line, on the Monongahela River; inc. 1785. A shipping point for a coal and limestone region, it also has glass, chemical, office furniture, mining equipment, and pharmaceutical industries. Fort Morgan was built there in 1772, and the first settlers arrived the same year. Iron, discovered in 1789, was the principal industry until the Civil War., WVa., a 3-for-2 stock split and cash dividend increase. The stock split will become effective Aug. 15, 1995 to shareholders of record July 31, 1995. The cash dividend adjusted for the 3-for-2 stock split will be four cents per share quarterly, which is a 20% increase over the current rate. This new quarterly rate will become effective in the October dividend payment. Puskar commented that he is pleased with the company's record earnings and continued growth which has enabled him to provide the shareholders with this increase in the cash dividend as well as accommodate the investors interests in Mylan with a 3-for-2 stock split. He concluded with an expression of confidence in the ability of the company to grow and prosper. CONTACT: Patricia Sunseri 412/232-0100 |
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