BMHC Announces Two-for-One Stock Split
February 15 2006 - 6:30AM
PR Newswire (US)
Company Increases Quarterly Dividend 33% to $0.10 on Split-Adjusted
Basis SAN FRANCISCO, Feb. 15 /PRNewswire-FirstCall/ -- Building
Materials Holding Corporation (NASDAQ:BMHC) today announced that
its Board of Directors has approved a two-for-one stock split for
shareholders of record as of February 28, 2006. The stock split
will be effective on March 14, 2006, on which date BMHC's transfer
agent, Wells Fargo Shareowner Services, will electronically
distribute the stock dividend of one additional share of BMHC
common stock for each share owned on the record date. BMHC also
announced today that its Board of Directors increased the quarterly
cash dividend by 33% and declared a first quarter 2006 cash
dividend of $0.10 per common share, on a split-adjusted basis. The
dividend is payable on April 14, 2006 to common shareholders of
record as of March 24, 2006. Robert E. Mellor, BMHC's Chairman,
President and Chief Executive Officer, stated, "We are very pleased
with BMHC's outstanding financial performance over the last two
years. We have been successful in implementing our strategy of
expanding geographically and broadening our construction services
to better meet the needs of high-volume production homebuilders
while continuing to provide building materials and service
solutions to regional and custom homebuilders. This stock split, as
well as the increase in our dividend for the third consecutive
year, reflects our belief in the long-term strategy of the Company.
Our dividend program enables our shareholders to participate in our
success, and we believe our stock split should improve liquidity
and allow broader ownership of the Company's shares." All
additional shares of BMHC's common stock issued as a result of the
stock split will be delivered in the form of electronic book
entries. The Company's transfer agent, Wells Fargo Shareowner
Services, is authorized to notify each stockholder as of the record
date that the additional shares issued in conjunction with the
stock split have been delivered electronically. After the stock
split, all current holders of shares in the form of paper
certificates will be invited to convert their certificated shares
into electronic book entry shares, at no cost to the shareholders,
in order to simplify their recordkeeping and improve the security
of their BMHC shares. About BMHC BMHC, a Fortune 1000 company, is
one of the largest providers of residential construction services
and building materials in the United States. We serve the
homebuilding industry through two subsidiaries: BMC West
distributes building materials and manufactures building components
for professional builders and contractors in the western and
southern states; BMC Construction provides construction services to
high-volume production homebuilders in key growth markets across
the country. BMHC was recently named to the Forbes Platinum 400,
also known as America's Best Big Companies, and was selected Pro
Dealer of the Year by Home Channel News. To learn more about BMHC,
visit our website at http://www.bmhc.com/. BUSINESS RISKS AND
FORWARD-LOOKING STATEMENTS There are a number of business risks and
uncertainties that affect our operations and therefore could cause
future results to differ from past performance or expected results.
Additional information regarding business risks and uncertainties
is contained in Item 1 of our 2004 Form 10-K. These risks and
uncertainties may include, but are not limited to: * demand for
homebuilding which is influenced by changes in the overall
condition of the U.S. economy, including job formation, interest
rates and consumer confidence, as well as other important factors;
* fluctuations in our costs and availability of sourcing channels
for commodity wood products and building materials; * changes in
the business models of our customers; * intense competition; *
integration of acquired businesses may not result in anticipated
cost savings and revenue synergies being fully realized or it may
take longer to realize than expected; * our ability to identify
suitable acquisition candidates; * availability of and our ability
to attract, train and retain qualified individuals; * unanticipated
weather conditions including natural catastrophic events such as
earthquakes, fire, flood, hurricanes, tornadoes, etc.; *
implementation of cost structures that align with revenue growth; *
actual and perceived vulnerabilities as a result of terrorist
activities and armed conflict; and * numerous other matters of a
local and regional scale, including those of a political, economic,
business, competitive or regulatory nature. Certain statements made
in this news release constitute forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Statements that are not historical or current facts,
including statements about our expectations, anticipated financial
results and future business prospects are forward-looking
statements. While these statements represent our current judgment
on what the future may hold and we believe these judgments are
reasonable, these statements involve risks and uncertainties that
could cause our actual results to differ materially from those in
forward-looking statements. These factors include, but are not
limited to the risks and uncertainties cited in the above
paragraph. Undue reliance should not be placed on such
forward-looking statements, as such statements speak only as of the
date of this news release. We undertake no obligation to update
forward-looking statements. DATASOURCE: Building Materials Holding
Corporation CONTACT: Bill Smartt, Senior Vice President and Chief
Financial Officer, or Mark Kailer, Vice President, Treasurer and
Investor Relations, both of Building Materials Holding Corporation,
+1-415-627-9100 Web site: http://www.bmhc.com/
Copyright
Building Materials (NASDAQ:BMHC)
Historical Stock Chart
From Sep 2024 to Oct 2024
Building Materials (NASDAQ:BMHC)
Historical Stock Chart
From Oct 2023 to Oct 2024