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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): March 7, 2000
Commission File Number 001-13913
WADDELL & REED FINANCIAL, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 51-0261715
(State or other (IRS Employer
jurisdiction of Identification No.)
incorporation)
6300 LAMAR AVENUE
OVERLAND PARK, KANSAS
66202
(Address of principal executive offices)
(Zip Code)
(913) 236-2000
(Registrant's telephone number including area code)
Not Applicable
(Former name or former address, if changed since last report)
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Item 5. Other Events.
In a press release dated March 7, 2000, Waddell & Reed Financial, Inc.
announced that its Board of Directors had approved a three-for-two stock
split on both its Class A and Class B common stock. The stock split will be
effected as a dividend and the record date is March 17, 2000. A copy of the
press release is attached hereto as an exhibit and is incorporated by
reference herein.
Item 7. Financial Statements and Exhibits.
(c) Exhibits.
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<CAPTION>
Exhibit No. Exhibit
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<S> <C>
99 Press Release of Waddell & Reed Financial, Inc. dated
March 7, 2000.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as
amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
WADDELL & REED FINANCIAL, INC.
By: /s/ John E. Sundeen, Jr.
---------------------------------
Name: John E. Sundeen, Jr.
Title: Senior Vice President and
Chief Financial Officer
Date: March 7, 2000
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INDEX TO EXHIBITS
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<CAPTION>
Exhibit No. Exhibit Page
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<S> <C> <C>
99 Press Release of Waddell & Reed Financial, Inc. dated
March 7, 2000.
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EXHIBIT 99
Waddell & Reed Financial, Inc.
6300 Lamar
Overland Park, Kansas 66202
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NEWS RELEASE
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Contact:
D. Tyler Towery NYSE: WDR and WDR.B
(913) 236-1806
FOR IMMEDIATE RELEASE March 7, 2000
6:14 A.M. EASTERN
WADDELL & REED, FINANCIAL, INC. ANNOUNCES
THREE FOR TWO STOCK SPLIT
OVERLAND PARK, Kan., March 7/PRNewswire/ -- Waddell & Reed Financial, Inc.
today announced that its Board of Directors has approved a three-for-two
stock split on both its Class A (NYSE: WDR) and Class B (NYSE: WDR.B) Common
Stock. The stock split will be effected as a dividend. Holders of Class A
Common Stock and Class B Common Stock as of March 17, 2000 will be entitled
to one additional share for every two shares held on that record date. On
April 7, 2000 Waddell & Reed's transfer agent will begin to distribute the
new shares along with checks for the value of any resulting fractional
shares. Management believes that over time the split will lead to a more
liquid market for the Company's shares.
This announcement of the three-for-two split follows Waddell & Reed's
signing last week of a definitive agreement to purchase The Legend Group, a
mutual fund distribution and retirement planning company serving employees of
school districts and other not-for-profit organizations nationwide. At
December 31, 1999, The Legend Group, based in Palm Beach Gardens, Fla. had
approximately 61,000 clients with $3.1 billion in third-party mutual fund
assets, primarily in retirement plans. Waddell & Reed expects that the
acquisition of Legend will be modestly accretive to earnings in 2000 and
increasingly so going forward.
Waddell & Reed Financial, Inc., through its wholly owned subsidiaries, serves
as investment advisor and exclusive underwriter and distributor for the
United Group of Mutual Funds, the Waddell & Reed Funds, Inc. and the
Target/United Funds, Inc. At December 31, 1999, the Company had assets under
management of $37.3 billion.
The statements in this release relating to matters that are not historical
facts are forward-looking statements based on management's belief and
assumptions using currently available information. Although the Company
believes that the expectations reflected in such forward-looking statements
are reasonable, it cannot give any assurances that these expectations will
prove to be correct. Such statements involve a number of risks and
uncertainties, including, but not limited to, the ability to manage rapid
growth and business diversification, risks associated with acquisitions and
other risks and uncertainties detailed in the reports filed by the Company
with the Securities and Exchange Commission. The Company assumes no duty to
publicly update such statements.
Toll Free: (800) 532-2757
[email protected]
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http://www.waddell.com
