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) April 14, 1994
THE BEAR STEARNS COMPANIES INC.
Exact name of registrant as specified in its charter
DELAWARE File No. 1-8989 13-3286161
(State or other (Commission File (IRS Employer
jurisdiction of Number) Identification
incorporation) Number)
245 Park Avenue, New York, New York 10167
(Address of principal executive offices) (Zip code)
Registrant's telephone number, including area code: (212) 272-2000
Not Applicable
(former name or former address, if changed since last report
Item 5. Other Events.
Filed herewith is a copy of The Bear Stearns Companies Inc. (the
"Company") Press Release, dated April 14, 1994, announcing the declaration of
quarterly cash dividends and a 5% stock dividend.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.
(a) Financial Statements of business acquired:
Not applicable.
(b) Pro Forma financial information:
Not applicable.
(c) Exhibit:
(99) Press Release, dated April 14, 1994.
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.
THE BEAR STEARNS COMPANIES INC.
By: /s/ Michael J. Abatemarco
Michael J. Abatemarco
Controller
Dated: April 14, 1994
THE BEAR STEARNS COMPANIES INC.
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description Page
(99) Press Release, dated April 14, 1994
Contracts: Hannah Burns (212)272-2395
Amy Morgan (212)272-4418
For Immediate Release
THE BEAR STEARNS COMPANIES INC.
DECLARES 5% STOCK DIVIDEND;
DECLARES CASH DIVIDENDS
New York, New York - April 14, 1994 - The Bear Stearns Companies
Inc. (NYSE;BSC) today announced the declaration of a 5% stock
dividend on its outstanding shares of common stock, the thirteenth
stock dividend to be paid since the company went public in 1985.
The company also announced quarterly cash dividends on its
outstanding shares of common stock, on the outstanding shares of
its adjustable rate cumulative preferred stock, on the outstanding
shares of its 7.88% cumulative preferred stock and on the
outstanding shares of its 7.60% cumulative preferred stock.
5% STOCK DIVIDEND DECLARED
The Board of Directors declared a 5% stock dividend on the
outstanding shares of common stock to be distributed May 27, 1994
to shareholders of record on May 13, 1994. The quarterly cash
dividend declared today will be paid in respect of shares of common
stock outstanding on May 13, 1994 and consequently will not be paid
on the newly issued shares.
QUARTERLY CASH DIVIDENDS DECLARED
The Board of Directors declared a regular quarterly cash
dividend of 15 cents per share on the outstanding shares of common
stock, payable May 27, 1994 to shareholders of record on May 13,
1994. The Board also declared a quarterly cash dividend of 70 5/8 cents
per share on the outstanding shares of adjustable rate cumulative
preferred stock, payable July 15, 1994 to shareholders of record on
June 30, 1994. In addition, the Board declared a quarterly cash
dividend of $3.94 per share on the outstanding shares of 7.88%
cumulative preferred stock which is equivalent to 49 1/4 cents per
related depositary share, and a quarterly cash dividend of $3.80
per share on the outstanding shares of 7.60% cumulative preferred
stock which is equivalent to 47 1/2 cents per related depositary share,
both payable July 15, 1994 to shareholders of record on June 30,
1994.
Earlier in the week, the company reported net income for the
third fiscal quarter ended March 25, 1994 of $115.5 million, a 5%
increase from $110.4 million for the comparable quarter a year ago.
Net income for the first nine months of fiscal 1994 was $354.6
million, a 49% increase from $237.7 million a year ago. Giving
effect to the 5% stock dividend, earnings per share for the third
quarter were 88 cents per share, versus 88 cents for the same period a
year ago. Earnings per share for the nine months ended March 25, 1994
were $2.65, a 40% increase from $1.89 for the comparable period
last year.
The Bear Stearns Companies Inc. is the parent company of Bear,
Stearns & Co. Inc., a leading worldwide investment banking and
securities trading firm, serving governments, corporations,
institutions and individuals worldwide. The company's business
includes corporate finance and mergers and acquisitions,
institutional equities and fixed income sales and trading, private
client services, foreign exchange and futures sales and trading,
asset management and custody services. Through Bear, Stearns
Securities Corp., it offers professional and correspondent
clearing, including securities lending. Headquartered in New York
City, the company has over 7,000 employees located in domestic
offices in Atlanta, Boston, Chicago, Dallas, Los Angeles, San
Francisco and Washington, DC; and an international presence in
Beijing, Frankfurt, Geneva, Hong Kong, Karachi, London, Madrid,
Manila, Paris, Sao Paulo, Shanghai and Tokyo. As of March 25,
1994, total capital, including long-term borrowings, was
approximately $5.4 billion. Giving effect to the 5% stock
dividend, book value as of March 25, 1994 was $14.19 per share,
based on 129,509,736 shares outstanding.
