News Details
CURTISS-WRIGHT ANNOUNCES STOCK SPLIT & DECLARES DIVIDEND OF $0.12 PER SHARE ON COMMON STOCK
February 07, 2006
ROSELAND, N.J., Feb. 7 /PRNewswire-FirstCall/ -- The Board of Directors of Curtiss-Wright Corporation (NYSE: CW) today declared a two-for-one split of the Company's Common Stock in the form of a stock dividend and a cash dividend of twelve cents ($0.12) per share, on a pre-split basis, on the Corporation's Common Stock. The dividend is payable on April 21, 2006 to stockholders of record as of April 7, 2006.
As a result of the stock split, shareholders will receive one additional common share for every share held on the April 7, 2006 record date. Distribution of these shares will begin on April 21, 2006.
"Curtiss-Wright has achieved significant growth through our base businesses and strategic acquisitions over the last several years while maintaining a solid balance sheet and regularly increasing the dividend," said Martin R. Benante, Chairman and CEO. "This stock split provides investors with enhanced liquidity and the dividend reflects our confidence in the Company's ability to continue to deliver strong revenue and profitability growth."
The most recent Curtiss-Wright stock split occurred in 2003. In November 2005, the Company raised the quarterly dividend payment by 33%. As of December 31, 2005, the Company had 21,746,362 Common Shares outstanding.
ABOUT CURTISS-WRIGHT
Curtiss-Wright Corporation is a diversified company headquartered in Roseland, New Jersey. The Company designs, manufactures and overhauls products for motion control and flow control applications, and provides of metal treatment services. The firm employs approximately 6,000 people worldwide. More information on Curtiss-Wright can be found on the Internet at http://curtisswright2014.q4web.com.
Forward-looking statements in this release are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Readers are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date hereof. Such risks and uncertainties include, but are not limited to: a reduction in anticipated orders; an economic downturn; changes in competitive marketplace and/or customer requirements; a change in government spending; an inability to perform customer contracts at anticipated cost levels; and other factors that generally affect the business of aerospace, defense contracting, marine, electronics and industrial companies. Please refer to the Company's current SEC filings under the Securities and Exchange Act of 1934, as amended, for further information.
SOURCE Curtiss-Wright Corporation
CONTACT:
Alexandra M. Deignan of Curtiss-Wright Corporation,
+1-973-597-4734