|
New
Release -- Superconductor Week does not edit or endorse the following
news release:
Intermagnetics Declares 3-for-2 Stock Split
Latham, NY, Jan. 26: Intermagnetics General
Corporation (NASDAQ:
IMGC) today announced that its Board of Directors has declared a
three-for-two split of its common stock. The split, to be completed in the form
of a 50 percent stock dividend, will be payable on February 21, 2006, to
shareholders of record on February 6, 2006. Shareholders will receive one
additional share of Intermagnetics' common stock for every two shares held on
the record date.
As of December 27, 2005, Intermagnetics had approximately twenty-eight million
shares outstanding. The stock closed today at $40.07.
Registered shareholders will be mailed stock certificates for the appropriate
number of additional shares on the distribution date. Investors whose shares are
deposited in brokerage accounts will receive notices from their brokers when
accounts are credited with the new shares. Fractional shares that would have
resulted from the split will be paid in cash based on the average bid/ask price
of the stock as of the record date. American Stock Transfer & Trust Co.,
Intermagnetics' transfer agent, is overseeing the distribution.
Return
to industry news releases |
