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Non-Tech : Gentex (GNTX) -- Ignore unavailable to you. Want to Upgrade?

To: prolific who wrote (103)	5/21/1998 5:46:00 PM
From: prolific	Read Replies (1) \| Respond to of 196

Gentex Corporation Declares 100 Percent Stock Dividend<GNTX.O> from: moneynet.com ZEELAND, Mich., May 21 /PRNewswire/ -- Today at Gentex Corporation's annual meeting of shareholders, the Company announced a two-for-one stock split effected in the form of a 100 percent common stock dividend for each outstanding share of the Company's common stock, par value $.06 per share. This stock dividend will be issued on June 19, 1998, to shareholders of record at the close of business on June 5, 1998. This is the third time in five years that the Zeeland, Michigan-based manufacturer of automatic-dimming mirrors and fire protection products has issued a 100 percent common stock dividend. "We are very pleased that the Company's continued strong performance has allowed the Board of Directors to approve this stock split," said Gentex Executive Vice President Kenneth La Grand. "The Board's endorsement of this action is a strong indication of our confidence in the long-term growth prospects for this company." Any shareholder who owns Gentex shares as of the close of business on June 19, 1998, will receive the 100 percent common stock dividend. However, any shareholder who sells Gentex shares from the record date (June 5, 1998) to the close of business on the issue date (June 19, 1998) should check with his/her broker to determine their eligibility for this stock dividend. Shareholders should not discard existing stock certificates. Certificates for the new shares will be mailed after June 22, 1998, and should be retained with other stock certificates. The accounts of "street name" shareholders (those who hold their stock in a brokerage account) will be credited with the new shares on June 25, 1998. Gentex Corporation (Nasdaq: GNTX) is an international company that provides high-quality products to the worldwide automotive industry and North American fire protection market. The Company develops, manufactures and markets proprietary electro-optic products, including interior and exterior electrochromic, automatic-dimming Night Vision Safety (NVS(R)) automotive rearview mirrors that dim in proportion to the amount of headlight glare from trailing vehicle headlamps, and an extensive line of fire protection products for commercial applications. Gentex was the first company in the world to successfully develop and produce a commercial electrochromic mirror for the motor vehicle industry. The Company is the leading supplier of these mirrors to the worldwide automotive industry. Gentex customers include Audi, Bentley, BMW, Chrysler, Daewoo, Fiat, Ford, General Motors, Gulf States Toyota, Honda, Hyundai, Infiniti, Kia Motors, Lexus, Mercedes-Benz, Mitsubishi, Nissan, Opel, Porsche, Rolls-Royce and Southeast Toyota Distributors. Founded in 1974, Gentex operates out of three facilities in Zeeland, Michigan; an automotive sales office in Livonia, Michigan; automotive sales and engineering subsidiaries in Germany and Japan; and five regional U.S. sales offices for the Fire Protection Products Group. The Company is recognized for its quality products, its application of world class manufacturing principles, for its commitment to developing and maintaining a highly skilled workforce, and for encouraging employee ownership of the Company's stock. SOURCE Gentex Corporation