SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
Pursuant to Section 13 or 15 (d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 20, 1999
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. ( the "Company")
Press Release, dated January 20, 1999, 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 20, 1999.
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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/ Marshall J Levinson
Marshall J Levinson
Controller and Assistant Secretary
(Principal Accounting Officer)
Dated: January 22, 1999
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THE BEAR STEARNS COMPANIES INC.
FORM 8-K
CURRENT REPORT
EXHIBIT INDEX
Exhibit No. Description
(99) Press Release, dated January 20, 1999
For Immediate Release
Contact: Ellen Glickman (212) 272-8188
THE BEAR STEARNS COMPANIES INC.
DECLARES 5% STOCK DIVIDEND;
DECLARES CASH DIVIDENDS
NEW YORK, January 20, 1999 -- The Bear Stearns Companies Inc. (NYSE: BSC) today
announced a 5% stock dividend on its outstanding shares of common stock. In
addition, the company also announced its regular quarterly cash dividends on its
outstanding shares of common stock, adjustable rate cumulative preferred stock,
6.15% cumulative preferred stock, 5.72% cumulative preferred stock, and 5.49%
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 February 26, 1999 to shareholders of record on
February 12, 1999. The quarterly cash dividend declared today will be paid in
respect of shares of common stock outstanding on February 12, 1999, 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 1999 were 84 cents versus $1.06 for the same quarter last
year; earnings per share for the first six months were $1.22 versus $2.11 for
the comparable period a year ago; and book value as of December 31, 1998 was
$23.69 per share.
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Quarterly Cash Dividends Declared
The Board of Directors declared a regular quarterly cash dividend of 15 cents
per share on the outstanding shares of the company's common stock, payable
February 26, 1999 to shareholders of record on February 12, 1999. 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, 1999 to
shareholders of record on March 31, 1999. In addition, other regular dividends
declared by the Board of Directors include: (i) a cash dividend of $3.075 per
share on the outstanding shares of 6.15% cumulative preferred stock, which is
equivalent to 76.875 cents per related depositary share; (ii) a cash dividend of
$2.86 per share on the outstanding shares of 5.72% cumulative preferred stock,
which is equivalent to 71.50 cents per related depositary share; and (iii) a
cash dividend of $2.745 per share on the outstanding shares of 5.49% cumulative
preferred stock, which is equivalent to 68.625 cents per related depositary
share, all payable April 15, 1999 to shareholders of record on March 31, 1999.
The Bear Stearns Companies Inc., with $18.9 billion in total capital, is the
parent company of Bear, Stearns & Co. Inc., a leading investment banking and
securities trading and brokerage 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 9,500 employees located in domestic offices in Atlanta, Boston,
Chicago, Dallas, Los Angeles and San Francisco; and an international presence in
Beijing, Buenos Aires, Dublin, Hong Kong, London, Lugano, Sao Paulo, Shanghai,
Singapore and Tokyo. For additional information about Bear Stearns, please visit
our website at http://www.bearstearns.com.
