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
Commission file Number 0-17536
Date of Report (Date of earliest event reported) August 8, 2000
SEVENSON ENVIRONMENTAL SERVICES, INC.
__________________________________________________________
(Exact name of registrant as specified in its charter)
New York 16-1091535
________________________________ ____________________
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
2749 Lockport Road
P.O. Box 396
Niagara Falls, NY 14302-0396
_____________________________________________________
(Address of principal executive offices)(Zip Code)
(Registrant's telephone number, including area code)
(716) 284-0431
_______________
NOT APPLICABLE
______________________________________________________
(Former name, former address and former fiscal year,
if changed since last report)
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Item 5. OTHER EVENTS
Sevenson Environmental Services, Inc. (the "Company"), a New
York corporation, has declared a 10% stock dividend, payable
on August 29, 2000 to stockholders of record as of
August 22, 2000. The stock dividend is payable in Common
Stock, on the outstanding Common Stock of the Company, and
payable in Class B Common Stock, on the outstanding Class B
Common Stock of the Company. In lieu of fractional shares,
each stockholder will be paid a cash equivalent based on the
average of the highest and lowest prices of the Company's
common stock on the record date, or if there are no sales,
on the average of the closing bid and asked prices on the
record date.
This action is intended to enable the Company to meet the
public float requirements for continued listing on the
Nasdaq National Market.
Item 7. EXHIBITS
(a) Attached as an exhibit is the Company's press release
announcing the stock dividend.
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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 hereunto duly authorized.
SEVENSON ENVIRONMENTAL SERVICES, INC.
Date: August 8, 2000 By /s/ William J. McDermott
___________________________________
William J. McDermott
Vice President, Secretary and
Chief Financial Officer
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EXHIBIT (a)
Contact: William J. McDermott
Vice President - Finance
(716) 284-0431
For Immediate Release
_____________________
SEVENSON ENVIRONMENTAL SERVICES, INC.
DECLARES 10% STOCK DIVIDEND
Niagara Falls, NY, August 9, 2000 - The Board of
Directors of Sevenson Environmental Services, Inc. (NASDAQ/NMS-
SEVN) yesterday declared a 10% stock dividend, payable in Common
Stock, on the outstanding Common Stock of Sevenson, and payable
in Class B Common Stock, on the outstanding Class B Common Stock
of Sevenson. The stock dividend is payable on August 29, 2000 to
stockholders of record on August 22, 2000.
Stockholders will receive one additional share of
Common Stock or Class B Common Stock for each ten shares of
Common Stock or Class B Common Stock they hold on the record
date. In lieu of fractional shares, each stockholder will be
paid a cash equivalent based on the average of the highest and
lowest prices of Sevenson's Common Stock on the record date, or
if there are no sales, the average of the closing bid and asked
prices on that date.
It is anticipated that Sevenson will issue
approximately 226,701 new shares of Common Stock and 726,921
shares of Class B Common Stock. Total shares outstanding will
increase to approximately 2,493,720 shares of Common Stock and
7,996,131 shares of Class B Common Stock. (All per share amounts
will be retroactively adjusted to reflect the stock dividend).
The Board's action is intended to enable the Company to meet the
public float requirements for continued listing on the Nasdaq
National Market.
Management anticipates that the current dividend rate
of 3-1/2 cents per share will be maintained.
Sevenson provides a comprehensive range of contracting
services for the remediation of sites and facilities contaminated
by hazardous materials. Since entering the site remediation
business in 1979, the company has performed over 800 projects,
including projects at Love Canal and 78 other Superfund sites,
with a combined value of almost one billion dollars.
Certain statements and information included herein
constitute "forward-looking statements" within the meaning of the
Federal Private Securities Litigation Reform Act of 1995. These
forward-looking statements can generally be identified as such
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because the context of the statements will include words such as
the Company "believes," "expects," "anticipates," "hopes," or
words of similar import. Such forward-looking statements involve
known and unknown risks, uncertainties and other factors which
may cause the actual results, performance, or achievements of the
Company to be materially different from any future results,
performance, or achievements expressed or implied in such
forward-looking statements. You are urged to review the
Company's Annual Report on Form 10-K for the year ended December
31, 1999, as well as all reports filed by the Company subsequent
to the Form 10-K with the Securities and Exchange Commission
under the Securities Exchange Act of 1934, all of which are
incorporated herein by reference.
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