2 for 1 stock split in October - NedRaven Industries Declares 2-for-1 Stock Split and Declares Regular Pre-Split Cash Dividend of 11 Cents Per Share SIOUX FALLS, S.D., Aug. 20 /PRNewswire-FirstCall/ -- The Board ofDirectors of Raven Industries, Inc. (Nasdaq: RAVN) today announced that it hadvoted to split the common shares of the company two-for-one effectiveOctober 15, 2004, to shareholders of record on September 24, 2004. Thecompany last split its stock (also two-for-one) on January 15, 2003. The Board said its confidence in the company's long-term growth prospectsand strategic direction merited the stock split along with the continuedincrease in the price of common stock. The Board also noted that the increasein the number of shares to more than 18 million should enhance marketliquidity for Raven shareholders. The announcement comes one day after Ravenreported record second-quarter net income rose 15 percent to $3.6 million from$3.2 million, or 40 cents per share, vs. 34 cents in the year-ago quarter. At the same time, Raven's Board approved the quarterly cash dividend of11 cents per pre-split share, payable October 15, 2004 to shareholders ofrecord on September 24, 2004. About Raven Industries, Inc. Raven is an industrial manufacturer that provides electronicsmanufacturing services, reinforced plastic sheeting and flow control devicesto various markets. On the Internet, information is available at http://www.ravenind.com , thecompany's website. S
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