Robbins and Myers, Inc. (RBN) announced that its Board of Directors declared a 2-for-1 stock split of the company’s common shares, to be effected in the form of a share dividend. Shareholders will receive one additional share for each common share of Robbins & Myers, Inc. owned as of the close of business on the record date of February 4, 2008. The additional shares will be issued on February 28, 2008. As a result of the stock split, the number of common shares issued and outstanding will increase from approximately 17.2M shares to approximately 34.4M shares.
The Board of Directors also approved a 15.4% increase in its regular quarterly cash dividend payment of $0.065 per share to $0.075 per share on a pre-split basis. The dividend is payable on February 15, 2008 to shareholders of record as of January 25, 2008.
Peter C. Wallace, president and chief executive officer stated, “These actions reflect consistent growth in our operating results, our strong financial position, significant increases in the value of the company’s common shares, and opportunities for further growth. Management remains committed to creating value for our shareholders.”
Robbins & Myers, Inc., based out of Dayton, Ohio, is a supplier of engineered equipment and systems for critical applications in global energy industrial, chemical and pharmaceutical markets.
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