Otro spinoff de un dividend champion en este mes de Mayo…
Dover announced that its board of directors formally approved the separation of Apergy Corporation from Dover through a distribution of all of the common stock of Apergy held by Dover to Dover shareholders. In connection with the approval, the board has also set the distribution ratio, record date and distribution date for the spin-off.
Apergy is a leading provider of highly engineered technologies that help companies drill for and produce oil and gas efficiently and safely around the world. The company’s principal products consist of artificial lift equipment and solutions, including rod pumping systems, electric submersible pump systems, progressive cavity pumps and drive systems and plunger lifts, as well as polycrystalline diamond cutters for drilling.
As a result, the following will occur:
• The distribution is expected to be made at 12:01 a.m. ET on May 9, 2018 to Dover stockholders of record as of 5:00 p.m. ET on April 30, 2018, the record date for the distribution.
• On the distribution date, Dover stockholders will receive one share of Apergy common stock for every two shares of Dover common stock held as of the record date.
• Following the distribution, Apergy will be an independent, publicly traded company, and Dover will retain no ownership interest in Apergy.
Shares of Dover common stock will continue to trade “regular-way” on the New York Stock Exchange (NYSE) under the symbol “DOV” through and after the May 9, 2018 distribution date.
A “when-issued” public trading market for Apergy’s common stock is expected to begin on or about April 27, 2018 on the NYSE under the symbol “APY WI” and continue through the close of trading on the day prior to the distribution date. Beginning on May 9, 2018, “when-issued” trading under the symbol “APY WI” will end and Apergy will begin “regular-way” trading on the NYSE under the symbol “APY.”