AAON Announces 3-for-2 Stock Split and Boosts Dividend Payout
TULSA, OK -- (Marketwired) -- 05/22/13 -- AAON, Inc. (NASDAQ: AAON),
today announced that the Board of Directors of the Company has
declared a three-for-two stock split of the Company's common stock to
be paid in the form of a stock dividend on July 2, 2013.
Stockholders of record at the close of business on June 13, 2013 will
receive one additional share for every two shares they hold as of
that date. Cash will be paid in lieu of fractional shares. Based on
the shares outstanding as of April 25, 2013, the number of shares
outstanding will increase from approximately 24.5 million to
approximately 36.7 million.
In addition, the amount of the Company's semi-annual cash dividend
has been increased by 25% to $0.10 per share or $0.20 annually, post
split. The next dividend also will be paid to shareholders of record
on June 13, 2013, with a payment date of July 2, 2013.
Norman H. Asbjornson, President and CEO, stated: "Our continued
strong capital position, as well as our confidence in the
opportunities for future growth, underlie the Company's decision to
declare a 50 percent stock dividend, which we believe will increase
our liquidity in the market." He also said, "The increase in our
dividend payout enables our stockholders to share in the benefits of
the Company's growth."
Certain statements in this news release may be "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933. Statements regarding future prospects and developments are
based upon current expectations and involve certain risks and
uncertainties that could cause actual results and developments to
differ materially from the forward-looking statements.
For Further Information:
Jerry R. Levine
Ph: (914) 244-0292
Fax: (914) 244-0295
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