I was watching CNBC this morning and all of a sudden Melrose was on with pictures of mowers and snowblowers.
Earnings are up, dividend is increased, cash is plentiful...I wonder what their next move will be.
In the past, Toro has utilized authorized but unissued shares to acquire the business or assets of other companies, to declare stock dividends and for issuance pursuant to employee and nonemployee director incentive plans. In addition, authorized but unissued shares may be sold to the public as a means of acquiring additional working capital, if required. At the present time there are no specific plans, arrangements or understandings in existence or in process for any stock dividend, public offering or issuance of shares in an acquisition. The Board has discussed the advisability of a 2-for-1 stock split and if the increase is adopted, the Board expects to consider a stock split at one of its meetings to be held in the calendar year 2005.
source: Preliminary Proxy Statement
I agree with you Big Chicago. Toro can't get to 100 million shares via a 2-1 split. I think Pioneer miss-reported the total shares because they mentioned "double� and "2-1" in the article as well. In my opinion, I believe the announcement by Toro in early December to double the dividend from 6 back to 12 cents a share was a precursor of a 2 for 1 stock split that will happen sometime this year.
Toro has 23 million shares outstanding. In order to reach 100 million shares like the article says, Toro would have to do a 4-for-1 split not 2-for-1. This would seem highly unlikely, tho I do hope Toro has at least a 2-for-1 split. I sure don't trust what Pioneer Press has to say.
what date do you have to be on file to recieve your extra shares? I want to buy into TTC...maybe I should just wait for the split......and what date will they split?
I'm searching for info. thanks
LOL. melrose just blows hot air for now but when SEC calls on him then he will be hiding in Iceland or norway.i hope he and all his gang come to norway so i can collect the bounty.the bald guy of the CNBC has no hair left.....LOL. carvers in every corner of the wall