SPRINGFIELD, MO — The board of directors of O’Reilly Automotive today declared a two-for-one stock split in the form of a 100 percent stock dividend to all shareholders of its common stock as of the close of business on May 31.
At the company’s 2005 Annual Meeting of Shareholders held on May 3, O’Reilly shareholders approved to amend the company’s Articles of Incorporation to increase the number of authorized shares of capital stock from 90 million to 250 million. The amendment will be filed with Missouri’s Secretary of State prior to the record date of May 31.
Each shareholder entitled to the dividend will receive one additional share of the company’s common stock for every one share of common stock held. The company anticipates that the additional shares resulting from the dividend will be made available to shareholders on or about June 15.
“The current per share price level of our common stock reflects the continued strong financial performance of O’Reilly Automotive since our initial public offering in April 1993. This stock dividend is indicative of our expectations for continued growth,” said Greg Henslee, CEO.
O’Reilly Automotive recently reported record earnings for the first quarter of 2005 of 59 cents per diluted common share, before cumulative effect of accounting change, up from 49 cents per share for the same period a year ago. O’Reilly Automotive also effected a two-for-one stock split on August 31, 1997 and November 30, 1999.
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