North American Galvanizing & Coatings (NGA) Announces 4-for-3 Stock Split; Adds $3M to Buyback

August 21, 2008 2:31 PM EDT

North American Galvanizing & Coatings, Inc. (Nasdaq: NGA) announced today that its Board has declared a 4 for 3 stock split of its common stock in the form of a stock dividend. The stock dividend is payable on September 14, 2008 to shareholders of record as of August 31, 2008. The stock dividend entitles each shareholder of record as of August 31, 2008 to receive one share of common stock for each three shares then owned.

North American Galvanizing also announced that it will add $3 million to its current buyback program. Management reported that approximately $1.9 million of the $2.0 million previously authorized had been expended to date for open market purchases during 2008. The buyback program is subject to market conditions and is expected to be funded through cash flow from operations.

North American Galvanizing & Coatings, Inc., through its wholly owned subsidiary, North American Galvanizing Company, engages in the hot dip galvanizing and coatings for corrosion protection of fabricated steel products in the United States.

Related Categories

Stock Buybacks
Stock Splits

Stocks Mentioned

Related Entities

• Dividend

Add Your Comment

Name

Subject

Body

Verification can't see the text?
click here to refresh the image.
what's this?