GTECH Holdings Corporation Announces 2-for-1 Stock Split
June 22 2004 - 8:25AM
PR Newswire (US)
GTECH Holdings Corporation Announces 2-for-1 Stock Split Declares
Quarterly Cash Dividend WEST GREENWICH, R.I., June 22
/PRNewswire-FirstCall/ -- GTECH Holdings Corporation (NYSE:GTK)
today announced that its Board of Directors approved a 2-for-1
stock split of the Company's common stock. The stock split will be
affected in the form of a stock dividend to be distributed on July
30, 2004, to shareholders of record on July 1, 2004, with
shareholders receiving one additional share of common stock for
each share held. The Company had 58,993,004 shares of common stock
outstanding as of May 29, 2004. In addition, the Board approved a
quarterly cash dividend. The quarterly dividend of 17 cents ($0.17)
per share on a pre-split basis, is payable on July 30, 2004, to
shareholders of record on July 1, 2004. In announcing the stock
split, GTECH President and CEO W. Bruce Turner said, "The Board's
decision recognizes our strong growth record as well as the
significant long-term opportunities that lie ahead. Further, the
Board is committed to actions that can contribute to the total
return of our shareholders. We believe this split will further
increase liquidity and make our common stock more attractive to a
broader range of potential investors." Certain statements contained
in this press release are forward looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such statements
include, without limitation, statements relating to the prospects
and financial outlook for the Company, which reflect management
assumptions regarding: (i) the future prospects for and stability
of the lottery industry and other businesses in which the Company
is engaged or expects to be engaged, (ii) the future operating and
financial performance of the Company (including, without
limitation, expected future growth in revenues, profit margins and
earnings per share), and (iii) the ability of the Company to retain
existing business and to obtain and retain new business. Such
forward looking statements reflect management's assessment based on
information currently available, but are not guarantees and are
subject to risks and uncertainties that could cause actual results
to differ materially from those contemplated in the forward looking
statements. These risks and uncertainties include, but are not
limited to, those set forth above, in the Company's subsequent
press releases and on reports by the Company on Forms 10-K, 10-Q
and 8-K, and other reports and filings with the Securities and
Exchange Commission, as well as risks and uncertainties respecting:
(i) the potential impact of extensive and evolving government
regulations upon the Company's business; (ii) the ability of the
Company to continue to retain and extend its existing contracts and
win new contracts; (iii) the possibility of slower than expected
growth or declines in sales of lottery and gaming goods and
services by the Company or the Company's customers; (iv) exposure
to foreign currency fluctuations; (v) risks and uncertainties
inherent in doing business in foreign jurisdictions; (vi) the
relatively large percentage of the Company's revenues attributable
to a relatively small number of the Company's customers; (vii) the
possibility of significant fluctuation of quarterly operating
results; (viii) the intensity of competition in the lottery and
gaming industries; (ix) the possibility of substantial penalties
under and/or termination of the Company's contracts; (x) the
ability of the Company to respond to technological change and to
satisfy the future technological demands of its customers; (xi)
opposition to expansion of lottery and gaming; (xii) the Company's
ability to attract and retain key employees; and (xiii) the
possibility of adverse determinations in pending legal proceedings.
GTECH, a leading global information technology company with over $1
billion in revenues and more than 5,500 people in 45 countries,
provides software, networks, and professional services that power
high-performance, transaction processing solutions. The Company's
core market is the lottery industry, with a growing presence in
commercial gaming technology and financial services transaction
processing. For more information about the Company, please visit
GTECH's website at http://www.gtech.com/. Contact: Robert K.
Vincent Public Affairs GTECH Corporation 401-392-7452 DATASOURCE:
GTECH Holdings Corporation CONTACT: Robert K. Vincent, Public
Affairs of GTECH Corporation, +1-401-392-7452 Web site:
http://www.gtech.com/
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