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Wabtec announces 2-for-1 stock split, raises dividend 60%

Shareholders of Wabtec approved the company's proposals at its annual meeting, and the company's Board of Directors approved a two-for-one stock split and a 60% dividend increase. The stock split will be in the form of a 100% stock dividend, to be paid June 11 to shareholders of record June 3. Shareholders will receive one additional share of Wabtec common stock for each share they own on the record date. The company expects its common stock to begin trading at the split-adjusted price on June 12. The board also increased Wabtec's quarterly, split-adjusted dividend by 60%, to 4c per share, compared to an equivalent dividend of 2.5c per share prior to the split. The new dividend is payable Aug. 30 to shareholders of record Aug. 16. This is the third consecutive year the board has increased Wabtec's dividend.