Wynn's International Announces Three-For-Two Stock Split and Regular Quarterly Dividend
10 December 1997
Wynn's International Announces Three-For-Two Stock Split and Regular Quarterly DividendORANGE, Calif., Dec. 10 -- Wynn's International, Inc. announced today that the Board of Directors had declared a three- for-two stock split to be effected by distribution of one additional share of the Company's common stock for every two shares currently outstanding. The additional shares will be mailed on January 14, 1998 to stockholders of record on December 22, 1997. Cash will be paid in lieu of issuing fractional shares, based on the closing price of the Company's common stock on December 22, 1997. Wynn's International currently has 12,825,053 shares outstanding, and after giving effect to the stock split, will have approximately 19,237,000 shares outstanding. In addition, the Board of Directors declared a regular quarterly dividend of eight cents ($0.08) per share, of common stock, payable January 5, 1998 to stockholders of record on December 22, 1997. The cash dividend was adopted and will be paid on a pre-split basis. This represents the 91st consecutive quarterly dividend payment since 1975. The Company also announced that Wendy K. K. Nishikawa, presently Assistant, Secretary and Assistant General Counsel, had been promoted to the position of Corporate Secretary and Assistant General Counsel. Gregg M. Gibbons, the current Corporate Secretary, will continue as Vice President -- Corporate Affairs and General Counsel. James Carroll, Chairman and Chief Executive Officer, noted that the three- for-two stock split was the Company's fourth three-for-two stock split in five years. He said that this split was part of the Company's continuing efforts to increase the number of shares available for trading and to attract a broader stockholder base. Wynn's International, Inc. founded in 1939, is a worldwide supplier of high quality O-rings and sealing products; specialty chemical products, equipment and related service programs; and builders hardware supplies. The Company has approximately 2,043 employees and is headquartered at 500 North State College Boulevard, Suite 700, Orange, California 92868, telephone, 714-938-3700. SOURCE Wynn's International, Inc.