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: June 14, 1996
(Date of earliest event reported)
THE MANITOWOC COMPANY, INC.
(Exact name of registrant as specified in its charter)
Wisconsin 1-11978 39-0448110
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(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
500 South 16th Street, Manitowoc, WI 54220
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (414-684-4410)
Item 5. Other Events
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On June 14, 1996, the Board of Directors of The Manitowoc Company,
Inc. (MTW) have declared a three-for-two stock split of the company's
common shares in the form of a 50 percent stock dividend.
The company will distribute the stock dividend in the form of
additional shares to shareholders of record as of June 25, 1996. The
company will arrange for mailing of these certificates beginning July
2, 1996.
Under the stock split, one new share of company common stock will be
issued for every two shares owned on the record date. The company
intends to pay cash in lieu of fractional shares that would otherwise
result from the split.
The three-for-two split will increase the number of outstanding
Manitowoc common shares from 7.7 million to 11.5 million.
The press release issued by the company describing the three-for-two
stock split is incorporated hereby reference to Exhibit 20 of this
Report, to which the reader is referred for more information.
Item 7. Financial Statements and Exhibits
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(c) Exhibits.
See the Exhibit Index following the Signature page of
this Report, which 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.
DATE: June 26, 1996 THE MANITOWOC COMPANY, INC.
(Registrant)
By: /s/ Robert R. Friedl
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Robert R. Friedl,
Vice President and
Chief Financial Officer
THE MANITOWOC COMPANY, INC.
EXHIBIT INDEX
TO
FORM 8-K CURRENT REPORT
Dated June 14, 1996
Incorporated
Herein
Exhibit By Reference Filed
No. Description To Herewith
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20 Press Release dated June 14, X
1996 regarding declaration
of a 3-for-2 stock split.
THE MANITOWOC COMPANY, INC.
NEWS For Immediate Release
MANITOWOC COMPANY DIRECTORS
APPROVE 3-FOR-2 STOCK SPLIT
MANITOWOC, Wisconsin, June 14, 1996 --- Directors of The Manitowoc
Company, Inc. (MTW), have approved a three-for-two stock split of the
company's common shares in the form of a 50 percent stock dividend.
The company will distribute the stock dividend in the form of
additional shares to shareholders of record on June 25, 1996. The
company will arrange for mailing of these certificates beginning July
2, 1996.
Under the stock split, one new share of company common stock will be
issued for every two shares owned on the record date. The company
intends to pay cash in lieu of fractional shares that would otherwise
result from the split.
The company's common stock purchase rights under its Rights Agreement,
dated as of September 5, 1986, as amended, will also be appropriately
adjusted to reflect the stock split.
The three-for-two split will increase the number of outstanding
Manitowoc common shares from 7.7 million to 11.5 million. The
company's common stock authorization previously approved by
shareholders is 35 million shares.
It is expected that the dividend rate on the new shares will be
adjusted to reflect the increased number of shares except for a
possible minor adjustment for rounding purposes. The most recent
quarterly dividend, paid earlier this month, was at a pre-split rate
of 25 cents per share. This would indicate a post-split dividend of
about 17 cents per share. Directors are next scheduled to consider
dividend payout at their August meeting.
The company said the stock split reflected solid operating results,
recent stock price performance, and was intended to improve trading
liquidity over time.
The Manitowoc Company, Inc. is a leading manufacturer of ice-cube
machines, ice-cube dispensers, and commercial refrigeration equipment
for the foodservice industry; a leading producer of lattice-boom
cranes, boom trucks, and related products for the construction
industry; and also specializes in ship-repair work for vessels
operating on the Great Lakes.
Company Contact:
Philip D. Keener
Treasurer
414-683-8133
