Chairman and CEO Doug Rock commented, "Smith's Board of Directors' decision to split our stock is a strong indication of the confidence we have in the growth opportunities for our business. We believe the stock split, our second in the past three years, will improve the liquidity of our stock and make our shares available to a larger and more varied group of investors."
Smith also announced that its Board of Directors has approved the regular quarterly dividend which, due to the stock split, has been adjusted to provide an equivalent dividend yield. Stockholders of record on September 15, 2005 will be entitled to a cash dividend of $0.06 per share, payable on October 14, 2005.
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