Nucor Announces 2-for-1 Stock Split
Nucor Announces 2-for-1 Stock Split
Jason Sandefur
Nucor Corp. announced a 2-for-1 stock split to broaden investor interest and improve marketability. The Charlotte, NC-based steel giant said the stock split would be effected by issuing one additional share of common stock for each share held by stockholders of record on September 30, 2004. The additional shares will be distributed to stockholders on October 15. Nucor common stock’s par value will remain at $.40 per share.
Nucor also boosted its third quarter earnings estimate based on higher margins. The company reported Q3 net earnings will be in the range of $4.40 to $4.60 per share, significantly better than the $.20 per share earned in the third quarter of 2003 and the $3.17 per share earned in the second quarter of 2004. Nucor had previously forecast third quarter net earnings to be between $3.20 and $3.40 per share. Web: nucor.com �2004 FastenerNews.com
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