II-VI Announces 2-for-1 Stock Split
PITTSBURGH, May 19, 2011 — Crystal growth technology company II-VI Inc. announced that its board of directors has authorized a two-for-one split of its common stock in the form of a 100 percent stock dividend.
Shareholders of record as of the close of business on June 3, 2011, will receive one additional share of the company’s common stock for each share they own. The company expects that its transfer agent, American Stock Transfer and Trust Co., will distribute the additional shares on or around June 24, 2011.
There are currently approximately 31.3 million shares of II-VI common stock outstanding. Upon completion of the stock split, there will be approximately 62.6 million outstanding shares, the company said.
“Today’s stock split reflects our continued commitment to building value for our shareholders and demonstrates the confidence of our board of directors and management in both the fundamentals and growth potential of our business,” said Francis J. Kramer, president and CEO. “In addition, the split is intended to further improve our liquidity and to make our shares more accessible to institutional and individual shareholders.”
For more information, visit: www.ii-vi.com
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