SplitTrader.com Announces Investment Opinion on SAP AG.
NOTE TO EDITORS: The following is an investment opinion issued
LITTLETON, Colo.--(BUSINESS WIRE)--March 10, 2000
SplitTrader.com Announces German Software Developer
Plans a 3-for-1 Stock Split
SplitTrader.com reported that the Board of Directors of SAP AG (NYSE: SAP) declared that it has approved a stock split of the Company's common shares on a 3:1 basis. Shareholders still need to vote on the action, which also includes necessary votes to transfer about E46.46 million to capital figures from the revenue reserves. An Annual Shareholder's Meeting will be held on May 5, 2000.
Shareholders will also be voting at that time on the Board's declaration to issue dividend payments in the amount of E1.57 per ordinary share and E1.60 per preference share. The pending payout is about 30% of the Company's 1999 annual net income. In the US, SAP's American Depositary Receipts (ADRs) are worth one-twelfth of a preference share.
SAP Aktiengesellschaft Systeme, Anwendungen, Produkte in der Datenverarbeitung (SAP AG), is an international provider of integrated business application software. Based in Walldorf Germany, the Company went public in November of 1988. Their last split was a 4:1 in July of 1998.
Currently, there are 734.9 million shares outstanding on an average daily volume of 907,500 (3-month). Share price hit a new 52-week high on March 9th of $84.94. Retracing slightly yesterday, trading closed at $83.50 on light volume of 511,600. SplitTrader.com will continue to monitor this stock in anticipation that we can add it to our Recommended Split List.
For further details on SAP, be sure to check out the Company's complete profile located at http://www.SplitTrader.com. To view a chart on the stock, click on the link provided below.
Chart = http://www.splittrader.com/charts/charts.asp?symbol=SAP
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|Date:||Mar 10, 2000|
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