I found this news article at the Compaq Home page.
Dividend Reinvestment Plan and Direct Purchase Plan Instituted
HOUSTON, October 16, 1997 - Compaq Computer Corporation (NYSE: CPQ) today announced two measures with the goal of enhancing shareholder value. First, the Board of Directors approved the initiation of a quarterly dividend of $.03 per common share. Second, the Board of Directors approved a two-for-one stock split, subject to shareholder approval to increase the number of authorized common shares. Stockholder approval will be solicited by written consent of
stockholders of record on October 31, 1997. After the stock split, the quarterly dividend becomes $.015 per common share.
"The dividend and stock split allow us to share our success with our shareholders," said Benjamin M. Rosen, Chairman. "These actions reflect our confidence in Compaq's long-term growth. In
addition, the cash dividend payments and lower post-split share price will make it easier for individual investors to purchase the stock, thus broadening the Company's ownership base."
The dividend is payable on January 20, 1998, to shareholders of record on December 31, 1997.
The Company will institute a dividend reinvestment plan and a direct purchase plan that will be available to stockholders prior to the first dividend payment date.
Thought this might be of interest. Eileen |
