One share for every one owned vs. a 2:1 Split- TREMENDOUS !!
Double your pleasure is the way I read it from the LVLT announcement !
At todays price, up 5 @ 76.75, I have more than doubled my $$. What am I missing here ??
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LEVEL 3 COMMUNICATIONS DECLARES
COMMON STOCK DIVIDEND FOR STOCKHOLDERS
OMAHA, NE, July 20, 1998 - Level 3 Communications, Inc. (Nasdaq: LVLT)
announced today that its Board of Directors has declared a stock
dividend with respect to its Common Stock, payable to stockholders of
record as of July 30, 1998. The dividend will be one share of Level 3
Common Stock for each share of Common Stock outstanding on that record
date. After the dividend, each holder of Common Stock will hold two
shares for every one share held previously.
About Level 3 Communications
Level 3 is a communications and information services company that is
building the first international network optimized for Internet
technology. The Level 3 Network will combine both local and long
distance networks, connecting customers end-to-end across the U.S. and
Europe. The company expects to complete the U.S. intercity portion of
the network by the first quarter of 2001. In the interim, Level 3 has
signed an agreement to lease a national network over which it will be
able to begin offering services in the third quarter of 1998. Level 3
will provide a full range of communications services -- including local,
long distance, international and Internet services. Level 3's common
stock is traded on The Nasdaq National Market under the symbol LVLT. Its
World Wide Web address is www.L3.com.
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