HEICO Corporation declares stock split; EADS unit prepares for passenger-to-cargo conversion
HEICO Corporation, a leading supplier of FAA-approved aircraft replacement parts, declared five-for-four stock splits on its Class A Common Stock and Common Stock.
The stock splits, which will be affected in the form of 25% stock dividends on each of the classes of common stock, are payable to shareholders of record as of 15-Apr-2011. Additional shares will be distributed to shareholders on or about 25-Apr-2011. This is HEICO's 12th stock dividend or stock split since 1995. HEICO's board presently intends to continue the company's regular semi-annual cash dividend at USD0.06 per share, which would represent a 25% increase over the prior semi-annual per share amount of USD0.048, as adjusted for the 5 for 4 stock splits.
Elsewhere in the aerospace sector, EFW, a unit of EADS, took delivery of its first aircraft ahead of conversion from passenger to freighter configuration. The aircraft is the first of up to 30 A320s from AerCap that will be converted to freighter configuration at the EFW site in Dresden. Initial conversion work will commence in Nov-2011. EADS shares gained 0.3% yesterday.
Selected Aerospace daily share price movements (% change): 30-Mar-2011