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: May 19, 1997
(Date of earliest event reported)
THE MANITOWOC COMPANY, INC.
(Exact name of registrant as specified in its charter)
Wisconsin 1-11978 39-0448110
-------------- ------------ ---------------
(State or other (Commission (IRS Employer
jurisdiction of File Number) Identification
incorporation) Number)
500 South 16th Street, Manitowoc, WI 54220
- -------------------------------------------------------
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (414-684-4410)
Item 5. Other Events
- -------------------------
On May 19, 1997, the Board of Directors of The Manitowoc Company, Inc. (MTW)
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 on June 30, 1997 to shareholders of record as of June 2, 1997.
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 approximately 11.5 million to approximately 17.3 million.
The press release issued by the company describing the three-for-two stock
split is incorporated herein by reference to Exhibit 20 of this report, to
which the reader is referred for more information.
Item 7. Financial Statements and Exhibits
- ------------------------------------------------
(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 2 , 1997 THE MANITOWOC COMPANY, INC.
(Registrant)
By: /s/ Robert R. Friedl
-----------------------------
Robert R. Friedl,
Senior Vice President and
Chief Financial Officer
THE MANITOWOC COMPANY, INC.
EXHIBIT INDEX
TO
FORM 8-K CURRENT REPORT
Dated May 19, 1997
Incorporated
Herein
Exhibit By Refrence Filed
No. Description To Herewith
-------- --------------- --------------- -------
20 Press Release dated May 19, X
1997 regarding declaration of
a 3-for-2 stock split.
NEWS For Immediate Release
MANITOWOC COMPANY DIRECTORS
APPROVE 3-FOR-2 STOCK SPLIT
MANITOWOC, Wisconsin, May 19, 1997 --- 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 2, 1997. The company will arrange for
issuance of these shares beginning June 30, 1997.
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,
datedAugust 5, 1996, 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 approximately 11.5 million to approximately 17.3 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
proportionately adjusted to reflect the increased number of shares except for a
possible minor adjustment for rounding purposes. The quarterly dividend to be
paid June 10 will be a pre-split rate of 16-2/3 cents per share. This would
indicate a post-split dividend of about 11-1/4 cents per share. Manitowoc's
directors are next scheduled to consider dividend payout at their July meeting.
The company said it's latest stock split reflects solid operating results,
recent stock price performance, and is intended to improve trading liquidity
over time. Manitowoc last split its stock, also on a 3-for-2 basis, on July 2,
1996.
The Manitowoc Company, Inc. is a leading manufacturer of ice-cube
machines, ice-cube dispensers, and commercial refrigeration equipment for the
foodservice industry; is a leading producer of lattice-boom cranes, boom
trucks, and related products for the construction industry; and also
specializes in ship-repair services for vessels operating on the Great Lakes.
Company Contact:
Philip D. Keener
Treasurer
414-683-8133
