Printer Friendly

ALLEN GROUP DECLARES TWO FOR ONE STOCK SPLIT AND REGULAR QUARTERLY CASH DIVIDEND

 BEACHWOOD, Ohio, Sept. 9 /PRNewswire/ -- The Allen Group Inc. (NYSE: ALN) announced today that its Board of Directors has declared a two for one stock split, the regular quarterly cash dividend of $.06 per share, and indicated its intent to increase its quarterly cash dividend by 33-1/3 percent after the split.
 Commenting on these actions, Philip Wm. Colburn, chairman of the board of the company, stated: "The two for one split declared on our common stock is based on the company's continued growth in earnings and improved financial condition. While the Board has declared the regular quarterly dividend of $.06 per common share on the common shares outstanding prior to the stock split, it is the Board's intention to increase the regular quarterly cash dividend, starting in December 1993, from the current rate (post-split $.03 per common share) to $.04 per common share, an increase of 33-1/3 percent."
 The Board of Directors adopted the following specific resolutions with respect to the stock split and quarterly cash dividends:
 A. Declared a quarterly cash dividend of $.06 per share on the company's common stock, payable Oct. 7, 1993, to common stockholders of record on Sept. 20, 1993.
 B. Declared a two for one stock split, payable Oct. 18, 1993, to common stockholders of record on Sept. 30, 1993.
 The Allen Group Inc. (NYSE symbol - ALN) manufactures and markets electronic and other mobile communications products for the wireless telecommunications industry, produces and sells truck components and operates centralized automotive emissions inspection programs.
 -0- 9/9/93
 /CONTACT: Robert A. Youdelman of The Allen Group, 216-765-5820/
 (ALN)


CO: The Allen Group Inc. ST: Ohio IN: AUT TLS SU: DIV

AR -- CL007 -- 0266 09/09/93 11:13 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Sep 9, 1993
Words:286
Previous Article:XEROX NETS PATENTS FOR BUCKYBALLS IN XEROGRAPHY AND LIQUID INK
Next Article:WASHINGTON POST ANNOUNCES EXECUTIVE CHANGES
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters