Triumph Group Announces Two-for-One Stock Split and Doubles Dividend
WAYNE, Pa., Jun 09, 2011 (BUSINESS WIRE) -- Triumph Group, Inc. (NYSE:TGI) today announced that its Board of Directors has declared a two-for-one stock split with respect to its common stock in the form of a 100% stock dividend. The two-for-one stock split will be payable on July 14, 2011 to stockholders of record as of June 22, 2011. Stock certificates representing the additional shares will be distributed by the company's transfer agent, Computershare Investor Services, and the price per share will be adjusted accordingly on the New York Stock Exchange for trading beginning on July 15, 2011. The company currently has 24,517,850 shares of common stock outstanding. After the stock split, there will be 49,035,700 shares of common stock outstanding.
The company also announced that it will continue to pay a quarterly dividend after the stock split at the rate of $.04 per share (on a post-split basis), effectively doubling the company's annual dividend expense.
Richard C. Ill, Triumph's Chairman and Chief Executive Officer, stated "We are dedicated to the growth of our business and to providing value to our stockholders. Our Board of Directors' decision to declare a two-for-one stock split with respect to the company's common stock, as well as its decision to continue paying our stockholders a quarterly dividend at a rate of $.04 per share, will improve our marketability and liquidity and increase the value to our stockholders."
Triumph Group, Inc., headquartered in Wayne, Pennsylvania, designs, engineers, manufactures, repairs and overhauls a broad portfolio of aerostructures, aircraft components, accessories, subassemblies and systems. The company serves a broad, worldwide spectrum of the aviation industry, including original equipment manufacturers of commercial, regional, business and military aircraft and aircraft components, as well as commercial and regional airlines and air cargo carriers.
More information about Triumph Group can be found on the company's website at www.triumphgroup.com.
Statements in this release which are not historical facts, including but not limited to statements regarding the record date and distribution date for the stock split, the amount of the distribution, the number of shares outstanding following the stock split, the continued payment of a quarterly dividend following the stock split and the rate of such quarterly dividend, are all forward-looking statements under the provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements involve risks and uncertainties which could affect the Company's actual results and could cause its actual results to differ materially from those expressed in any forward looking statements made by, or on behalf of, the Company. Further information regarding the important factors that could cause actual results to differ from projected results can be found in the Company's reports filed with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended March 31, 2011.
SOURCE: Triumph Group, Inc.
Triumph Group, Inc.
Sheila G. Spagnolo