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) January 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 January 29, 1997 announcing its declaration of quarterly
cash dividends and a 5% stock dividend on its outstanding shares of common
stock.
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 January 29 1997.
<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: January 29, 1997
<PAGE>
THE BEAR STEARNS COMPANIES INC.
FORM 8-K
CURRENT REPORT
Exhibit Index
Exhibit No. Description Page
(99) Press Release, dated January 29, 1997
For Immediate Release
Contacts: Hannah Burns (212) 272-2395
Maura Gaenzle (212) 272-4445
Anne Graber (212) 272-8188
THE BEAR STEARNS COMPANIES INC.
DECLARES 5% STOCK DIVIDEND;
DECLARES CASH DIVIDENDS
New York, New York -- January 29, 1997 -- The Bear Stearns Companies Inc.
(NYSE:BSC) today 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.
The company also announced a 5% stock dividend on its outstanding shares of
common stock.
5% Stock Dividend Declared
The Board of Directors declared a 5% stock dividend on the outstanding shares of
common stock to be distributed February 28, 1997 to shareholders of record on
February 14, 1997. The quarterly cash dividend declared today will be paid in
respect of shares of common stock outstanding on February 14, 1997, and
consequently will not be paid on the newly issued shares.
Giving effect to the 5% stock dividend, earnings per share for the second
quarter of fiscal 1997 were $1.21 versus 69 cents for the same quarter last
year; earnings per share for the first six months were $1.92 versus $1.29 for
the comparable period a year ago.
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 February 28, 1997
to shareholders of record on February 14, 1997. The board also declared a
quarterly cash dividend of 68.75 cents per share on the outstanding shares of
adjustable rate cumulative preferred stock, payable April 15, 1997 to
shareholders of record on March 31, 1997. 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 49.25 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
47.50 cents per related depositary share, both payable April 15, 1997 to
shareholders of record on March 31, 1997.
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 December 31, 1996, total capital, including stockholders'
equity and long-term borrowings, was $9.5 billion. Giving effect to the 5% stock
dividend, book value as of December 31, 1996 was $17.67 per share, based on
151,529,084 shares outstanding.
