Benzinga | Sep 15, 2020 04:38PM EDT

Rush Enterprises Announces ThreeForTwo Stock Split

SAN ANTONIO, Sept. 15, 2020 (GLOBE NEWSWIRE) -- Rush Enterprises, Inc. (NASDAQ:RUSHA, RUSHB))))), which operates the largest network of commercial vehicle dealerships in North America, announced today that its Board of Directors declared a three-for-two stock split with respect to both the Company's Class A and Class B common stock. The stock split will be effected in the form of a stock dividend payable on October 12, 2020, to stockholders of record as of September 28, 2020. Holders of the Company's common stock will receive an additional one-half share for each share of common stock held as of the record date. The stock split will increase the number of outstanding shares of Class A common stock from approximately28,135,067 to approximately42,202,601 and will increase the number of outstanding shares of Class B common stock from approximately8,374,476 to approximately 12,561,714.



"I am excited to announce this stock split, which should increase the trading activity, or float, in our common stock, particularly with respect to the Class B common stock. In addition, in recognition of our strong cash position and continued belief in our business outlook, we plan to recommend to the Board of Directors that we maintain our current quarterly cash dividend of $0.14 per share, which would effectively increase the cash dividend to our stockholders by 50%," said W.M. "Rusty" Rush, Chairman, Chief Executive Officer and President ofRush Enterprises, Inc. "While we expect that the Board of Directors will accept our recommendation to maintain the current quarterly cash dividend payment on a post-split basis, future dividend declarations are at the sole discretion of the Company's Board of Directors," he stated.