|
|
Article: Lennar Proposes 10% Stock Dividend of Class B Common Stock.
- Article from:
- PR Newswire
- Article date:
- February 21, 2003
CopyrightCOPYRIGHT 2003 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Lennar Corporation announced today that its Board of Directors has approved a distribution to its stockholders of one share of Class B Common Stock for each ten shares of Common Stock or Class B Common Stock held on April 9, 2003, subject to stockholder approval of amendments to Lennar's Certificate of Incorporation that will make it practical for the Class B Common Stock to be publicly traded.
Lennar's Common Stock, which entitles holders to one vote per share, is listed on the New York Stock Exchange. Its Class B Common Stock, which entitles its holders to ten votes per share, currently is not transferable, except to members of the holder's family or entities ...