The Bear Stearns Companies Inc. Declares Cash Dividend.NEW YORK--(BUSINESS WIRE)--May 5, 1998--The Bear Stearns Companies Inc. (NYSE NYSE
See: New York Stock Exchange :BSC (Binary Synchronous Communications) See bisync. ) today announced a cash dividend on its recently issued outstanding shares of 5.72% Cumulative Preferred Stock Cumulative preferred stock
Preferred stock whose dividends accrue, should the issuer not make timely dividend payments. Related: Non-cumulative preferred stock. , Series F.
The Board of Directors declared a cash dividend for the dividend period commencing on the date of issuance of $2.6693 per share on the outstanding shares of 5.72% Cumulative Preferred Stock, which is equivalent to 66.73 cents per related Depositary Share, payable July 15, 1998 to shareholders of record on June 30, 1998.
The Bear Stearns Companies Inc. is the parent company of Bear, Stearns & Co. Inc., a leading investment banking and securities trading and brokerage firm serving governments, corporations, institutions and individuals worldwide. The company's business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers professional and correspondent clearing, including securities lending Securities Lending
When a brokerage lends securities owned by its clients to short sellers.
This allows brokers to create additional revenue (commissions) on the short sale transaction. . Headquartered in New York City New York City: see New York, city.
New York City
City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , the company has 9,000 employees located in domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles and San Francisco; and an international presence in Beijing, Buenos Aires, Dublin, Geneva Geneva, canton and city, Switzerland
Geneva (jənē`və), Fr. Genève, canton (1990 pop. 373,019), 109 sq mi (282 sq km), SW Switzerland, surrounding the southwest tip of the Lake of Geneva. , Hong Kong, London, Lugano, Paris, Sao Paulo, Shanghai, Singapore and Tokyo. As of March 27, 1998 total capital, including stockholders' equity and long-term borrowings, was $16.3 billion. Book value as of March 27, 1998 was $22.39 per share, based on 151,561,466 shares outstanding.
CONTACT: Hannah Burns (212) 272-2395
Maura Gaenzle (212) 272-4445
Ellen Glickman (212) 272-8188