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) October 29, 1996
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)
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Item 5. Other Events.
Filed herewith is a copy of The Bear Stearns Companies Inc.'s (the
"Company") Press Release, dated October 29, 1996, announcing its promotion
of Samuel L. Molinaro Jr. to Chief Financial Officer of The Bear Stearns
Companies Inc. and its declaration of quarterly cash dividends.
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 October 29, 1996.
<PAGE>
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: October 29, 1996
<PAGE>
THE BEAR STEARNS COMPANIES INC.
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description Page
(99) Press Release, dated October 29, 1996
For Immediate Release
Contact: Hannah Burns (212) 272-2395
Maura Gaenzle (212) 272-4445
Anne Graber (212) 272-8188
SAMUEL MOLINARO
APPOINTED CHIEF FINANCIAL OFFICER
OF BEAR STEARNS;
CASH DIVIDENDS DECLARED
New York, New York -- October 29, 1996 -- The Bear Stearns Companies Inc.
(NYSE:BSC) today announced the promotion of Samuel L. Molinaro Jr. to chief
financial officer of The Bear Stearns Companies Inc. Mr. Molinaro assumes a
title previously held by William J. Montgoris who has served as chief financial
officer for the past nine years and as chief operating officer for the past
three years. Mr. Montgoris will continue to serve as the company's chief
operating officer.
Mr. Molinaro, 38, previously served as senior vice president - finance of The
Bear Stearns Companies Inc. and continues to be a senior managing director of
Bear, Stearns & Co. Inc. Mr. Molinaro has been at Bear Stearns since 1986 and
served as assistant controller prior to his appointment as senior vice president
- - finance in 1993. Mr. Molinaro is a member of the firm's Credit, Funding,
Internal Audit and Operations Committees.
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 November 29,
1996 to shareholders of record on November 15, 1996. 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 January 15, 1997 to
shareholders of record on December 27, 1996. 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 January 15, 1997 to
shareholders of record on December 27, 1996.
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, derivatives, 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 7,800 employees located in
domestic offices in Atlanta, Boston, Chicago, Dallas, Los Angeles and San
Francisco; and an international presence in Beijing, Buenos Aires, Dublin,
Geneva, Hong Kong, London, Lugano, Manila, Paris, Sao Paulo, Shanghai, Singapore
and Tokyo. As of September 27, 1996, total capital, including stockholders'
equity and long-term borrowings, was $9.4 billion. Book value as of September
27, 1996 was $17.44 per share, based on 144,324,555 shares outstanding.
