ABBOTT LABORATORIES TO SPLIT STOCK 2-FOR-1; TO INCREASE DIVIDEND 20 PERCENT
ABBOTT LABORATORIES TO SPLIT STOCK 2-FOR-1;
TO INCREASE DIVIDEND 20 PERCENT
ABBOTT PARK, Ill., Feb. 14 /PRNewswire/ -- The board of directors of Abbott Laboratories (NYSE: ABT) today approved a two-for-one stock split and increased the company's quarterly common dividend 20 percent to 30 cents per share on the pre-split shares.
Shareholders of record at the close of business on May 1, 1992, will be issued an additional share of Abbott common stock May 29, 1992, for each share owned on the record date.
The cash dividend is payable May 15, 1992, to holders of record at the close of business on April 15, 1992. The quarterly dividend rate after the split will be 15 cents per share.
The board also authorized redemption of 100 percent of the company's outstanding 9.20 percent sinking fund debentures due Oct. 15, 1999. The debentures will be redeemed effective April 15, 1992, at a price of 101.38. Interest will be paid to the redemption date. Citibank, N.A., 120 Wall Street, N.Y., N.Y., 10043, is the paying agent for the redemption. The debentures currently outstanding total $17,392,000.
Abbott Laboratories is a worldwide manufacturer of health care products employing some 46,000 people. In 1991, the company's sales and net earnings were $6.9 billion and $1.1 billion, respectively, with earnings per share of $2.55.
/CONTACT: Don Braakman of Abbott Laboratories, 708-937-1237/
(ABT) CO: Abbott Laboratories ST: Illinois IN: MTC SU: DIV SH -- NY056 -- 0272 02/14/92 14:40 EST