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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 24, 1998
CLARCOR Inc.
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(Exact name of registrant as specified in its charter)
Delaware 1-11024 36-0922490
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification No.)
incorporation)
2323 Sixth Street, P.O. Box 7007, Rockford, Illinois 61125
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(Address of principal executive offices) (Zip Code)
815-962-8867
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(Registrant's telephone number,
including area code)
N/A
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(Former Name or Former Address, if Changed Since Last Report.)
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Item 5. OTHER EVENTS
On March 24, 1998, CLARCOR Inc., a Delaware Corporation, issued a Press
Release (the "Press Release") with respect to the declaration by its Board of
Directors of a three-for-two stock split to be effected in the form of a 50%
stock dividend and a regular quarterly cash dividend.
A copy of the Press Release is filed herewith as Exhibit 1 and is incorporated
herein by reference.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
CLARCOR Inc.
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(Registrant)
March 26, 1998 By /s/ Lawrence E. Gloyd
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Lawrence E. Gloyd
Chairman of the Board &
Chief Executive Officer
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EXHIBIT 1
[CLARCOR LOGO]
FOR FURTHER INFORMATION CONTACT:
Lawrence E. Gloyd
Chairman of the Board and Chief Executive Officer
Rockford, Illinois
815-962-8867
FOR IMMEDIATE RELEASE
Tuesday, March 24, 1998
CLARCOR BOARD AUTHORIZES 3-FOR-2 STOCK SPLIT AND
REGULAR QUARTERLY DIVIDEND
The Board of Directors of CLARCOR Inc. (NYSE: CLC) declared today a 3-for-2
stock split to be distributed on April 24, 1998 for all shareholders of record
on April 10, 1998. After the split, CLARCOR will have approximately 24,281,118
common shares outstanding.
"The split is indicative of the growth and progress CLARCOR has achieved and
the Board's belief that CLARCOR will continue to expand profitably in the
future," said Lawrence E. Gloyd, Chairman and Chief Executive Officer in making
the announcement.
CLARCOR also announced its regular quarterly dividend of $0.165 per share on a
pre-split basis. The dividend is payable on April 24, 1998 to all shareholders
of record on April 10, 1998. Adjusted for the stock split, the annual common
stock dividend rate will be $0.44 per share or $0.11 per quarter.
CLARCOR is based in Rockford, Illinois, and is a diversified marketer and
manufacturer of mobile and environmental filtration products and consumer
packaging sold to domestic and international markets. Common shares of the
Company are traded on the New York Stock Exchange under the symbol CLC.
The statements in this release concerning the company's sales, business
performance and prospects are forward-looking statements that involve risk and
uncertainties, including changes in product demand, price competition, the
effectiveness of plant conversions and productivity improvement programs, the
management of both growth and acquisitions and other factors discussed in
filings made with the Securities and Exchange Commission.
[LETTERHEAD OF CLARCOR]
