SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C, 20549
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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): August 14, 1997
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THE FINOVA GROUP INC.
(Exact name of registrant as specified in its charter)
DELAWARE 1-11011 86-0695381
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(State or Other Jurisdiction (Commission (I.R.S. Employer
of Incorporation) File Number) Identification No.)
1850 NORTH CENTRAL AVENUE, P. O. BOX 2209, PHOENIX, ARIZONA 85004-2209
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 602/207-6900
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Item 5. Other Events.
The FINOVA Group Inc. today announced a two-for-one stock split and
$0.28 per share dividend on the company's pre-split common stock.
Item 7. Financial Statements and Exhibits.
(c) Exhibits:
Exhibits Title
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28 Press Release of The FINOVA Group Inc. dated
August 14, 1997
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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 FINOVA GROUP INC.
(Registrant)
Dated: August 19, 1997 By /s/ Samuel L. Eichenfield
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Samuel L. Eichenfield, Chief Executive Officer,
President and Chairman of the Board
Authorized Officer
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EXHIBIT 28
The FINOVA Group Inc.
DECLARES 2-FOR-1 STOCK SPLIT
AND
INCREASES DIVIDEND 16.7%
PHOENIX, Ariz., Aug. 14, 1997 -- The board of directors of The FINOVA Group Inc.
(NYSE:FNV) today declared a two-for-one stock split of FINOVA's common stock,
$.01 par value, to be effected in the form of a 100% common stock distribution
on the company's issued and outstanding shares. The distribution of the
additional shares will be made Oct. 1, 1997 to shareholders of record Sept. 1,
1997.
The board also increased the company's quarterly dividend from $.24 to
$.28 per share on the company's pre-split common stock ($.14 per share on the
post-split shares). The dividend, representing an increase of 16.7% from the
prior quarter, is payable Oct. 1, 1997 to shareholders of record on Sept. 1,
1997.
On July 15, 1997, FINOVA reported a 20% increase in net income and
earnings per share for the second quarter. Net income for the quarter ended June
30, 1997 was $33.8 million ($1.21 per common share) compared to $28.1 million
($1.01 per common share) for the quarter ended June 30, 1996.
The FINOVA Group Inc. is a Phoenix-based major domestic commercial
finance company providing a broad range of secured financing and leasing
products ranging generally from $500,000 to $35 million to midsize business.
For more information about The FINOVA Group Inc., visit the company's
Website at www.finova.com.
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