CAMPBELL ANNOUNCES 21 PERCENT DIVIDEND INCREASE; SPLITS STOCK TWO-FOR-ONE
CAMPBELL ANNOUNCES 21 PERCENT DIVIDEND INCREASE;
SPLITS STOCK TWO-FOR-ONE
CAMDEN, N.J., Nov. 21 /PRNewswire/ -- At the annual meeting of shareowners today, Campbell Soup Company (NYSE: CPB) President and Chief Executive Officer David W. Johnson announced that the company's board of directors approved a 21 percent increase in the quarterly dividend and a two-for-one stock split.
Shareowners of record on Dec. 2, 1991, will receive one additional share of stock for each share they own on that date.
The increased quarterly dividend of 35 cents per share on a pre- split basis will be paid on Jan. 31, 1992, to shareowners of record at the close of business on Jan. 9, 1992.
"The restructuring of fiscal 1990 has paved the way for accelerated earnings growth which propelled a forty percent increase in our stock price," Johnson said. "This has allowed us to reward shareowners through a higher dividend, which in turn, expresses our confidence in the company's future and justifies the two-for-one split," he noted.
The company had 125,673,253 shares of common stock outstanding on Nov. 1, 1991 out of a total of 140 million authorized common shares on a pre-split basis.
Campbell stock was last split in December 1987 on a two-for-one basis.
/CONTACT: C. Scott Rombach, 609-342-6422, or Leonard F. Griehs, 609-342-6428, both of Campbell Soup/
(CPB) CO: Campbell Soup Company ST: New Jersey IN: FOD SU: DIV MP -- PH011 -- 5787 11/21/91 10:17 EST