Reinhold Industries Reminds Shareholders of Differing Treatment of Special and Regular Dividends Under NASD Policies
November 30 2005 - 4:38PM
PR Newswire (US)
SANTA FE SPRINGS, Calif., Nov. 30 /PRNewswire-FirstCall/ --
Reinhold Industries, Inc. (NASDAQ:RNHDA) of Santa Fe Springs,
California, reminds its shareholders of the different treatment
that will be afforded its recently declared special and regular
dividends under the policies of the National Association of
Securities Dealers (NASD). On November 21, 2005, Reinhold declared
a special dividend of $6.00 per share to all shareholders of record
on December 16, 2005, payable on January 3, 2006. Previously, on
November 14, 2005, Reinhold declared a regular quarterly dividend
of $0.50 per share to all shareholders of record on December 2,
2005, payable on December 16, 2005. Under the rules of the NASD,
the "ex-dividend date" with respect to the $6.00 per share special
dividend does not occur until January 4, 2006, the day after the
payment date. The ex-dividend date is the date on which the stock
is no longer deemed to trade along with the right to receive the
dividend. Accordingly, the price of Reinhold's stock after the
December 16, 2005 record date for the special dividend and before
the January 4, 2006 ex-dividend date will reflect that shareholders
selling their stock between those dates are also selling the right
to receive the special dividend. They will not also receive the
dividend. Persons who buy the stock during that period will receive
the dividend. By contrast, the ex-dividend date for a regular
dividend occurs two trading days before the record date. In the
case of Reinhold's recently announced regular dividend of $0.50 per
share, the ex-dividend date occurred on November 30, 2005. Persons
who sell their Reinhold shares on or after November 30, 2005, will
be entitled to receive the regular dividend. On November 21, 2005,
Reinhold also announced that it will discontinue its previous
policy of paying regular quarterly dividends. The regular dividend
payable on December 16, 2005 will be Reinhold's last quarterly
dividend under its now discontinued policy. Reinhold Industries,
Inc. is a manufacturer of advanced custom composite components and
sheet molding compounds for a variety of applications in the United
States. SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS To the
extent the Company makes certain "forward-looking statements" in
this press release, such as statements about future plans, goals
and other events which have not yet occurred, such statements are
intended to qualify for the safe harbors from liability provided by
the Private Securities Litigation Reform Act of 1995.
Forward-looking statements can generally be identified because they
include words such as the Company "believes," "anticipates,"
"expects" or words of similar import. These forward-looking
statements involve risks and uncertainties and the actual results
could differ materially from those discussed in the forward-looking
statements. These risks and uncertainties include, without
limitation, risks associated with levels of U.S. and foreign
military spending and the financial condition of the airline
industry. You should consider these risks and factors and the
impact they may have when you evaluate these forward-looking
statements. These statements are based only on the Company's
knowledge and expectations on the date of this press release. The
Company disclaims any duty to update these statements or other
information in this press release based on future events or
circumstances. DATASOURCE: Reinhold Industries, Inc. CONTACT: Wanda
Morrison of Reinhold Industries, Inc., +1-562-944-3281
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