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If a corporation with a buy-back plan declares a stock dividend, a shareholder's redemption right under the plan might be viewed as an election by the shareholder to receive a stock split distribution in either stock or property under Sec.
This action marks the third stock dividend that the Board has declared over the past 18 months," said Robert G.
Combined with the quarterly cash dividends, this 5 percent stock dividend results in a very attractive return to many shareholder investors," said Sickels.
If the GmbH were to declare a stock dividend equal to its accumulated retained earnings, a German tax refund of approximately DM 2,800,000 ($1,700,000) could be obtained.
The positive effect of this is that more shareholders can avail of this stock dividend in a solid company with bright potentials such as Phil Oil.
This action marks the second consecutive year that the board has declared a stock dividend and the fourth consecutive year in which the board has approved an increase in the regular cash dividend," said Robert G.
OTC:PGMC)(New Stock Symbol pending NASDAQ advise), and the stock dividend issuance of PGMC common shares to Pearl Asian Mining Industries (OTC:PAIM) shareholders.
Smith, president and chief executive officer of Webster, stated: "The 10 percent stock dividend and the board's intention to continue the cash dividend at the same rate reflect Webster's continued strong financial condition and increased earnings.
Pearl Asian Mining Industries Reports Landowner of Property Adjacent to XYZ Mine Site Agreeable to Allow Immediate Passage to Commence Geological Survey and More Detailed Sampling, Subject to Mutually Beneficial Terms; PAIM Provides Clarification on Issuance of Stock Dividends of PGMC to PAIM Common Shareholders as of Record Date of Feb.
Jones, chairman of the board and chief executive officer of the company, said, "This stock dividend continues our tradition since 1985 of rewarding our shareholders for their loyalty and support with stock dividends.
Myers, President and Chief Executive Officer, stated that, "The decision by the Board of Directors to declare the stock dividend and the $0.