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Technology Stocks : Magal Security Systems (MAGS)

MAGS 69.06

+1.0%

Oct 29 4:00 PM EDT

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To: George the Greek who wrote (13)	5/24/2004 11:54:34 AM
From: VIXandMore	of 14

Israel's Magal declares stock dividend, shares surge JERUSALEM, May 24 (Reuters) - Israel's Magal Security Systems Ltd (NasdaqNM:MAGS - News; Tel Aviv:MAGS.TA - News), a provider of computerised security systems and video monitoring services, said on Monday it will pay a stock dividend of five percent of its issued shares. The dividend is in addition to the cash dividend Magal paid to shareholders in January, Magal said in a statement. Magal said it expects to pay the stock dividend in August, pending approval from shareholders at its meeting in July. The board of directors has already approved the dividend. Magal has about eight million outstanding shares. Its stock price was up 15 percent at $17.60 in early Nasdaq trading on Monday. Magal also said its fully owned U.S-based subsidiary, Senstar-Stellar Inc received orders of more than $1 million for various security-related projects, including an order from a U.S. nuclear power plant.

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