 |
 |
Date Announced: 17 May 2011
Infrared optics firm says it wants to build shareholder value.
PITTSBURGH, May 17, 2011 (GLOBE NEWSWIRE) -- II VI Incorporated (Nasdaq:IIVI - News) announced today that its Board of Directors authorized a two-for-one stock split of the Company's Common Stock in the form of a 100% common stock dividend. Shareholders of record as of the close of business on June 3, 2011 will receive one additional share of II-VI common stock for each share then owned.
II-VI expects that its transfer agent, American Stock Transfer and Trust Company, will distribute the additional shares on or about June 24, 2011. There are currently approximately 31.3 million shares of II-VI common stock outstanding. Upon completion of the stock split, there will be approximately 62.6 million common shares outstanding.
Francis J. Kramer, president and chief executive officer of II-VI Incorporated, stated, "Today's stock split reflects our continued commitment to building value for our shareholders and demonstrates the confidence of our Board of Directors and management in both the fundamentals and growth potential of our business. In addition, the split is intended to further improve our liquidity and to make our shares more accessible to institutional and individual shareholders."
Source: II-VI
E-mail: ccreaturo@ii-vi.com
Web Site: www.ii-vi.com
| © 2024 SPIE Europe |
|
