O'Reilly Automotive Announces Two-for-One Stock Split
9 November 1999
O'Reilly Automotive Announces Two-for-One Stock Split
SPRINGFIELD, Mo.--Nov. 8, 1999--O'Reilly Automotive, Inc. ("O'Reilly") today announced the declaration by its Board of Directors at its third quarter meeting held Thursday, November 4, 1999, of a two-for-one stock split in the form of a 100% stock dividend to all shareholders of record of its common stock as of the close of business on November 15, 1999.Each shareholder entitled to the dividend will receive one additional share of the Company's common stock for every one share of common stock held. The Company anticipates that the additional shares resulting from the dividend will be made available to shareholders on or about November 30, 1999.
"The current per share price level of our common stock reflects the continued strong financial performance of O'Reilly Automotive since our initial public offering in April 1993. This stock dividend is indicative of our expectations for continued growth," said David O'Reilly, CEO. O'Reilly Automotive recently reported record earnings for the third quarter of 1999 of $0.52 per share up from $0.38 per share for the same period a year ago. O'Reilly Automotive also effected a two-for-one stock split August 31, 1997.
O'Reilly Automotive is one of the largest specialty retailers of automotive aftermarket parts, tools, supplies, equipment and accessories in the United States, serving both the do-it-yourself and professional installer markets. Founded in 1957 by the O'Reilly family, the company operates 541 stores within the states of Texas, Missouri, Oklahoma, Kansas, Iowa, Arkansas, Louisiana, Nebraska and Illinois as of September 30, 1999.
Statements contained in this press release, which are not historical facts, are forward-looking statements. Such forward-looking statements are necessary estimates reflecting the best judgment of the party making such statements based upon current information and involve a number of risks and uncertainties. Forward-looking statements contained in this press release or in other public statements of the Company should be considered in light of those factors. There can be no assurance that such factors will not affect the accuracy of such forward-looking statements. We assume no obligation to update these forward-looking statements.