Server: Netscape-FastTrack/2.0 Date: Thu, 18 Dec 1997 10:01:36 GMT Accept-ranges: bytes Last-modified: Wed, 17 Dec 1997 20:14:30 GMT Content-length: 3449 Content-type: text/html
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Liberty Financial Declares Stock SplitBOSTON, November 12, 1997 - Liberty Financial Companies, Inc. (NYSE: L), announced today that its Board of Directors declared a 3-for-2 common stock split effected in the form of a 50 percent stock dividend distributable on December 10, 1997 to stockholders of record as of the close of business on November 26, 1997.Shareholders of record will receive one additional share for every two shares owned. Shareholders who own an odd number of shares will receive a cash payment for the one-half fractional share interest, calculated using the split-adjusted average high and low trading prices of Liberty Financial's common stock for the record date and preceding two days. The Board of Directors also declared a split-adjusted $0.10 per share quarterly cash dividend on its Common Stock, payable on December 10, 1997 to shareholders of record as of the close of business on November 26, 1997. As in prior quarters, LFC Holdings, Inc., a wholly-owned subsidiary of Liberty Mutual Insurance Company which owns approximately 75 percent of the Company's Common Stock, will take payment of this cash dividend in the form of shares of Common Stock under the Company's dividend reinvestment plan. Liberty Financial Companies is an integrated asset management organization. It has approximately $52 billion in assets under management in an array of fixed, variable and indexed annuities, private and institutional accounts, and 73 mutual funds that meet the investing needs of over 1.5 million investors worldwide. Liberty Financial's operating companies include Keyport Life Insurance Company, The Colonial Group, Stein Roe & Farnham, Newport Pacific Management, Independent Financial Marketing Group and Liberty Asset Management Company.
### For more information, please contact William Rice at (617)371-2357 or Email wrice@lib.com[Return to Liberty Financial Corporate News Releases] Copyright © 1997, Liberty Financial Companies, Inc. 600 Atlantic Avenue, Boston, Massachusetts, USA. 617-722-6000 |