BALCHEM ANNOUNCES STOCK SPLIT
BALCHEM ANNOUNCES STOCK SPLIT SLATE HILL, N.Y., Nov. 11 /PRNewswire/ -- Balchem Corporation
(NASDAQ: BLCC) announced today that its board of directors, on Monday, Nov. 4, had authorized a four-for-three split of common shares which provides for the issuance of one share of common stock for each three shares of stock held by a holder of record on Dec. 6, 1991, the additional shares to be delivered to the stockholders of Balchem Corporation on or about Dec. 27, 1991.
No fractional shares will be issued but in lieu thereof a cash payment will be made for the estimated value of the fractional interest. No gain or loss for federal income tax purposes will be realized with respect to the issuance of such additional shares except in respect of any fractional share interests for which cash payment is made. Balchem Corporation's board of directors on that same date also declared a cash dividend of $.045 per share on the pre-split shares, payable on Dec. 27, 1991, to holders of record as of Dec. 5. -0- 11/11/91 /CONTACT: Herb Weiss, president of Balchem, 914-355-2861/ (BLCC) CO: Balchem Corporation ST: New York IN: CHM SU: SH-CK -- NY036 -- 2997 11/11/91 11:13 EST
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|Date:||Nov 11, 1991|
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