CLEVELAND, April 29, 2011 /PRNewswire/ -- The Lincoln Electric Holdings, Inc. (Nasdaq: LECO) Board of Directors today declared a two-for-one stock split in the form of a stock dividend and authorized a quarterly cash dividend of $0.31 per share, on a pre-split basis, or $0.155 per share, on a post-split basis.
The two-for-one stock split of Lincoln Electric's common stock will be in the form of a 100% stock dividend and will be distributed May 31, 2011, to shareholders of record on May 16, 2011. Each holder on the record date will receive one additional share for each share of the Company's common stock held. Lincoln Electric shares will begin trading on a split-adjusted basis on June 1, 2011.
The quarterly cash dividend of $0.31 per share, on a pre-split basis, or $0.155 per share, on a post-split basis, is payable on July 15, 2011, to shareholders of record on June 30, 2011.
Lincoln Electric is the world leader in the design, development and manufacture of arc welding products, robotic arc-welding systems, plasma and oxyfuel cutting equipment and holds a leading global position in the brazing and soldering alloys market. Headquartered in Cleveland, Ohio, Lincoln has 41 manufacturing locations, including operations and joint ventures in 19 countries and a worldwide network of distributors and sales offices covering more than 160 countries. For more information about Lincoln Electric, its products and services, visit the Company's Web site at http://www.lincolnelectric.com.
The Company's expectations and beliefs concerning the future contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management's current expectations and involve a number of risks and uncertainties. Actual results may differ materially from such statements due to a variety of factors that could adversely affect the Company's operating results. The factors include, but are not limited to: general economic and market conditions; the effectiveness of operating initiatives; currency exchange and interest rates; adverse outcome of pending or potential litigation; possible acquisitions; market risks and price fluctuations related to the purchase of commodities and energy; global regulatory complexity; and the possible effects of events beyond our control, such as political unrest, acts of terror and natural disasters, on the Company or its customers, suppliers and the economy in general. For additional discussion, see "Item 1A. Risk Factors" in the Company's periodic reports.
SOURCE Lincoln Electric Holdings, Inc.