right in the middle on my prediction of 2-1 or 3-1
HOUSTON--(BUSINESS WIRE)--July 1, 1997--Compaq Computer
Corporation (NYSE:CPQ) today announced that its Board of Directors
approved a five-for-two stock split in the form of a stock dividend.
"This stock split reflects our confidence in Compaq's long-term
growth," said Benjamin M. Rosen, Chairman. "In addition, the lower
post-split share price will make it easier for individual investors
to purchase the stock, thus helping broaden the Company's ownership
base."
The record date for the stock split is July 14, 1997.
Shareholders of record as of that date will receive three additional
shares of common stock for every two shares they own on that date.
Distribution of new shares will be mailed on or about July 28, 1997.
As of June 30, 1997, Compaq had 276 million shares outstanding. Upon
completion of the split, the number will increase to 690 million
shares outstanding. In addition, the number of shares that would be
issued in the recently announced proposed merger with Tandem
Computers Incorporated would be appropriately adjusted to reflect the
stock split.
Company Background
Compaq Computer Corporation, a Fortune 100 company, is the fifth
largest computer company in the world and the largest global supplier
of personal computers, delivering useful innovation through products
that connect people with people and people with information. The
company is an industry leader in environmentally friendly programs
and business practices. Compaq is strategically organized to meet
the current and future needs of its customers, offering Internet and
enterprise computing solutions, networking products, commercial PC
products and consumer PCs. As the leader in distributed enterprise
solutions, Compaq has shipped over a million servers. In 1996, the
company reported worldwide sales of $18.1 billion. Compaq products
are sold and supported in more than 100 countries through a network
of authorized Compaq marketing partners. Customer support and
information about Compaq and its products can be found at
compaq.com or by calling 1-800-OK-COMPAQ. Product
information and reseller locations can be obtained by calling
1-800-345-1518.
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