UNITED STATES
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
| Date of Report (Date of Earliest Event Reported): | November 3, 2010 |
AMETEK, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
| Delaware | 1-12981 | 14-1682544 |
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_____________________ (State or other jurisdiction |
_____________ (Commission |
______________ (I.R.S. Employer |
| of incorporation) | File Number) | Identification No.) |
| 37 North Valley Road, Paoli, Pennsylvania | 19301 | |
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_________________________________ (Address of principal executive offices) |
___________ (Zip Code) |
| Registrant’s telephone number, including area code: | 610-647-2121 |
Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 8.01 Other Events.
On November 3, 2010, AMETEK, Inc. issued a press release announcing that its Board of Directors has declared a three-for-two stock split and approved a 50% increase in the quarterly cash dividend on its common stock. A copy of such press release is furnished as Exhibit 99.1 to this Current Report.
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.
| AMETEK, Inc. | ||||
| November 3, 2010 | By: |
/s/ Robert R. Mandos, Jr.
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| Name: Robert R. Mandos, Jr. | ||||
| Title: Senior Vice President and Comptroller | ||||
Exhibit Index
| Exhibit No. | Description | |
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99.1
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Copy of press release issued by AMETEK, Inc. on November 3, 2010. |
Exhibit 99.1
CORPORATE OFFICE
37 North Valley Road, Building 4, P.O. Box 1764, PAOLI, PA 19301-0801
Contact: William J. Burke (610) 889-5249
AMETEK ANNOUNCES STOCK SPLIT AND DIVIDEND INCREASE
— Declares a 3-for-2 Stock Split, Increases Dividend 50% —
Paoli, PA, November 3, 2010 — AMETEK Inc. (NYSE: AME) today announced its Board of Directors has declared a three-for-two stock split and approved a 50% increase in the quarterly cash dividend on its common stock.
The three-for-two split of its common stock will result in the issuance of one additional common share for every two shares owned as of the record date. The new shares are payable on December 21, 2010, to shareholders of record on December 10, 2010. Any fractional shares resulting from the stock split will be paid in cash based on the closing market price of AMETEK stock on the record date. By splitting its stock, AMETEK expects to broaden the stock’s marketability and improve its trading liquidity.
After reviewing the Company’s strong financial position and future expectations, AMETEK’s Board of Directors also has decided to increase the quarterly common stock dividend 50%, to an indicated annual rate of $.36 per share ($.24 per share on a post-split basis). The Board of Directors declared the fourth quarter dividend of $.09 per share ($.06 per share on a post-split basis), payable on December 21, 2010 to shareholders of record on December 10, 2010.
Frank S. Hermance, AMETEK Chairman and Chief Executive Officer commented, “Our Four Growth Strategies have resulted in significant increases in sales, profitability and cash flow. We remain firmly committed to these strategies, in particular our disciplined acquisition strategy, and believe they will continue to drive shareholder value in the future. Anticipated strong cash flows will enable us to continue to fully fund these growth strategies, while rewarding shareholders with a higher cash dividend.”
Corporate Profile
AMETEK is a leading global manufacturer of electronic instruments and electro-mechanical devices
with annualized sales of $2.5 billion. AMETEK’s Corporate Growth Plan is based on Four Key
Strategies: Operational Excellence, Strategic Acquisitions & Alliances, Global & Market Expansion
and New Products. AMETEK’s objective is double-digit percentage growth in earnings per share over
the business cycle and a superior return on total capital. The common stock of AMETEK is a
component of the S&P MidCap 400 and the Russell 1000 Indices.
—MORE—
AMETEK ANNOUNCES STOCK SPLIT AND DIVIDEND INCREASE
Page 2
Forward-looking Information
Statements in this news release relating to future events, such as AMETEK’s expected business and
financial performance are “forward-looking statements.” Forward-looking statements are subject to
various factors and uncertainties that may cause actual results to differ significantly from
expectations. These factors and uncertainties include our ability to consummate and successfully
integrate future acquisitions; risks associated with international sales and operations; AMETEK’s
ability to successfully develop new products, open new facilities or transfer product lines; the
price and availability of raw materials; compliance with government regulations, including
environmental regulations; changes in the competitive environment or the effects of competition in
our markets; the ability to maintain adequate liquidity and financing sources; and general economic
conditions affecting the industries we serve. A detailed discussion of these and other factors
that may affect our future results is contained in AMETEK’s filings with the U.S. Securities and
Exchange Commission, including its most recent reports on Form 10-K, 10-Q and 8-K. AMETEK
disclaims any intention or obligation to update or revise any forward-looking statements.
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