Summary
Southern Copper Corporation (SCCO) announced a significant corporate action on June 19, 2008, via an 8-K filing. The Executive Committee of the Board of Directors approved a three-for-one stock split, to be executed as a two-for-one stock dividend. This means shareholders of record as of June 30, 2008, will receive two additional shares for every one share they own. This move is generally seen as a positive signal from management, often indicating confidence in the company's future prospects and aiming to make the stock more accessible to a broader range of investors by lowering its per-share price. Investors should note the distribution date of July 10, 2008, for the additional shares.
Key Highlights
- 1Southern Copper Corporation (SCCO) announced a stock split.
- 2The stock split is a three-for-one split, implemented as a two-for-one stock dividend.
- 3Shareholders of record on June 30, 2008, will receive the stock dividend.
- 4The additional shares will be distributed on July 10, 2008.
- 5The filing was made on June 19, 2008, reporting an event date of June 18, 2008.
- 6The press release detailing this action is included as an exhibit.