This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

HEICO Declares 5-for-4 Stock Splits Effective April 26, 2011

Stocks in this article: HEI

MIAMI and HOLLYWOOD, Fla., March 29, 2011 (GLOBE NEWSWIRE) -- HEICO Corporation (NYSE:HEI-A) (NYSE:HEI) today announced that its Board of Directors declared 5-for-4 stock splits on both its Class A Common Stock payable in shares of its Class A Common Stock and on its Common Stock payable in shares of its Common Stock. The stock splits, which will be effected in the form of 25% stock dividends on each of the classes of common stock, are payable to shareholders of record as of April 15, 2011. The additional shares will be distributed to shareholders on or about April 25, 2011. Fractional shares for the stock splits will be paid in cash based on the last sale price of each of the respective classes of common stock on the record date (as adjusted for the stock splits).

Today's action marks HEICO's 12 th stock dividend or stock split starting in 1995, when the Board began declaring such dividends or stock splits as it deemed appropriate.

Laurans A. Mendelson, HEICO's Chairman and Chief Executive Officer, remarked, "This stock split reflects our continuing confidence in HEICO's business outlook. Over the past 16 years, HEICO has experienced substantial growth while we declared such stock splits, stock dividends and increased cash dividends. With the prior stock splits and stock dividends, one share of HEI worth $8.38 in 1990 has become 4.12 shares of HEI plus 4.10 shares of HEI.A worth on a combined basis approximately $420 today. Based on the Company's current business outlook, the Board of Directors presently intends to continue the Company's regular semi-annual cash dividend at $.06 per share, which would represent a 25% increase over the prior semi-annual per share amount of $.048, as adjusted for these 5 for 4 stock splits." 

HEICO has two classes of common stock traded on the NYSE. Both classes, the Class A Common Stock (HEI.A) and the Common Stock (HEI), are virtually identical in all economic respects. The only difference between the share classes is the voting rights. The Class A Common Stock (HEI.A) receives 1/10 vote per share and the Common Stock (HEI) receives one vote per share.

There are currently approximately 20.0 million shares of HEICO's Class A Common Stock (HEI.A) outstanding and 13.4 million shares of HEICO's Common Stock (HEI) outstanding. After giving effect to the stock splits, the Company will have approximately 25.0 million shares of Class A Common Stock (HEI.A) outstanding and 16.7 million shares of Common Stock (HEI) outstanding. The stock symbols for HEICO's two classes of common stock on most web sites are HEI.A and HEI. However, some web sites change HEICO's Class A Common Stock stock symbol (HEI.A) to HEI/A or HEIa.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,389.97 -288.73 -1.63%
S&P 500 2,033.74 -23.35 -1.14%
NASDAQ 4,694.6530 -77.11 -1.62%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs