Diodes Inc. (Westlake Village, CA), a manufacturer and supplier of discrete semiconductors, announced that its board of directors has declared a three-for-two stock split in the form of a 50% stock dividend payable on November 25, 2003, to stockholders of record on November 14, 2003.
Under the terms of the stock dividend, Diodes' stockholders will receive one additional share for every two shares held on the record date. The dividend will be paid in authorized, but unissued, shares of the common stock of the company. Fractional shares created by the stock dividend will be paid in cash based upon the closing price of the company's stock on the record date.
The company anticipates that the number of outstanding shares of common stock after the dividend will be increased from approximately 8,586,271 to approximately 12,879,406 shares. The par value of the company's stock will not be affected by the dividend and will remain at $0.66 two-thirds per share. For stock splits/dividends greater than 25%, the ex-date is set as the first business day after the payment date.
