8-KOther EventsExhibits & Filings

SOUTHERN COPPER CORP/ 8-K Report, Corporate Update (Jun 19, 2008)

Filed June 19, 2008For Securities:SCCO

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.

Frequently Asked Questions

The main event reported is Southern Copper Corporation's announcement of a three-for-one stock split, structured as a two-for-one stock dividend.

If you are a shareholder of record on June 30, 2008, you will receive two additional shares of common stock for every share you currently own. This effectively triples your number of shares.

The additional shares resulting from the stock dividend are scheduled to be distributed on July 10, 2008.

A stock split itself does not change the total market value of your investment. While the number of shares increases, the price per share is adjusted proportionally. For example, if you owned 100 shares at $30 each ($3,000 total value), after a 3-for-1 split (or a 2-for-1 dividend as in this case, resulting in a 3x share increase), you would own 300 shares, but the price per share would theoretically drop to $10, keeping the total value at $3,000.