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) December 11, 1996
Forest City Enterprises, Inc.
(Exact name of registrant as specified in its charter)
Ohio 1-4372 34-0863886
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
10800 Brookpark Road Cleveland, Ohio 44130
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (216) 267-1200
(Former name or former address, if changed since last report.)
Item 5. Other Events.
This Form 8-K is being filed to submit a press release, dated December 11,
1996, entitled FOREST CITY ENTERPRISES, INC. ANNOUNCES 3 FOR 2 STOCK SPLIT,
NEW QUARTERLY DIVIDEND POLICY AND CASH DIVIDEND, which describes the actions
taken by the Board of Directors to declare a 3 for 2 stock split, a cash
dividend of $.06 per share (post-split) of common stock, and a new quarterly
cash dividend policy.
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 hereunto duly authorized.
Forest City Enterprises, Inc.
(Registrant)
Date January 29, 1997 By /s/ Thomas G. Smith
Thomas G. Smith, Senior Vice
President and Chief Financial Officer
For Immediate Release
December 11, 1996
Contact
Thomas G. Smith
Senior Vice President, Chief Financial Officer
(216) 267-1200
URL:http://www.fceinc.com
FOREST CITY ENTERPRISES, INC. ANNOUNCES 3 FOR 2 STOCK SPLIT,
NEW QUARTERLY DIVIDEND POLICY AND CASH DIVIDEND
Cleveland, Ohio --- Forest City Enterprises, Inc. (AMEX-FCEA and AMEX-FCEB)
Charles A. Ratner, President and Chief Executive Officer of Forest City
Enterprises, Inc., announced today that the Board of Directors have
approved a 3 for 2 stock split of both the Company's Class A and Class B
shares of common stock. The common stock split is effective February 17,
1997 to shareholders of record at the close of business on February 3, 1997.
In addition, the Board of Directors announced their intention to pay
cash dividends on a quarterly basis in the future, whereas recent cash
dividends have been paid on an annual basis. A quarterly cash dividend of
$.06 per share (post-split) on shares of both Class A and Class B common
stock was declared today by the Board of Directors. The $.06 quarterly
dividend per share equates to an annual pre-split dividend of $.36 per
share and represents a 12.5% increase over the annual dividend declared
for the fiscal year ending January 31, 1997. This quarterly dividend of
$.06 per share is payable on March 17, 1997 to shareholders of record at
the close of business on March 3, 1997.
Forest City Enterprises, Inc. is a major, vertically integrated, national
real estate development and management company that owns more than
$2.4 billion of properties, at cost. The Company is active in 20 states
and the District of Columbia. Its corporate headquarters are located in
Cleveland, Ohio, with regional offices in New York, Boston, Los Angeles,
Chicago, Portland, Tucson, Detroit and Washington, D.C.
Forest City Enterprises, Inc. internet address is URL:http://www.fceinc.com
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