BLOOMINGTON, Minn., Mar 20, 2003 /PRNewswire-FirstCall via COMTEX/ -- The board
of directors of The Toro Company (NYSE: TTC) announced it has approved a
two-for- one stock split of its Common Stock, which will be effected in the form
of a 100 percent stock dividend. Holders of Toro's Common Stock will receive one
additional share of Common Stock for every share held on the record date of
April 1, 2003, payable April 14, 2003. Additionally, Toro's board of directors
declared a regular quarterly cash dividend on a pre-split basis of 12 cents per
share (six cents per share on a post-split basis) payable April 14, 2003 to
stockholder of record April 1, 2003. As of March 20, the company has 12,498,320
common shares outstanding. As a result of the split, the number of outstanding
common shares will double.
Toro is a leading worldwide provider of outdoor maintenance and beautification
products for home, recreation and commercial landscapes.
SOURCE Toro Company
CONTACT: Investor Relations, Stephen P. Wolfe, Vice President, CFO,
+1-952-887-8076, or Stephen D. Keating, Director, +1-952-887-8526; or Media
Relations, Shelley Benedict, Toro Media Relations, +1-952-887-8930,
firstname.lastname@example.org , all of The Toro Company
/Company News On-Call: http://www.prnewswire.com/comp/103025.html
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