North American Galvanizing Announces 3-for-2 Stock Split
05/16/2007 - North American Galvanizing & Coatings’ Board of Directors declares a 3-for-2 stock split of its common stock in the form of a 50% stock dividend.
North American Galvanizing & Coatings’ Board of Directors declared a 3-for-2 stock split of its common stock in the form of a 50% stock dividend. The stock dividend is payable on June 8, 2007 to shareholders of record as of May 25, 2007, with a broker's cut-off date of June 1, 2007.
"This 3-for-2 stock split reflects our confidence in the long-term prospects of the company,” said Ronald J. Evans, President and Chief Operating Officer of North American Galvanizing & Coatings. “The stock split should allow our stock to be more accessible to a broader range of investors and to improve shareholder liquidity."
The stock dividend entitles each shareholder of record as of May 25, 2007 to receive one share of common stock for each two shares then owned. Any fractional shares resulting from the stock split will be paid in cash based on the closing market price of the common stock on the record date.
North American Galvanizing is a leading provider of hot-dip galvanizing and coatings for corrosion protection of fabricated steel products. The Company conducts its galvanizing and coating business through a network of plants located in Canton, Ohio; Denver, Hurst (Dallas/Forth Worth), Houston, Kansas City, Louisville, Nashville, St. Louis, and the Tulsa area. Hot-dip galvanizing provides metals corrosion protection for many product applications used in commercial, construction and industrial markets.
