This 100% stock dividend, effectively a 2 for 1 stock split, entitles each shareholder to receive one additional share of common stock for every share owned at the close of business on the record date. Following the split, Jack Henry will have approximately 87.4 million shares outstanding and approximately 55.0 million shares in the public float. At January 26, 2001, the company had 43,676,424 outstanding shares of common stock.
"Earlier this month we reported record revenues and earnings for the December quarter. We believe that stock and cash dividends are an excellent method of sharing the company's success with its owners," said Michael E. Henry, Chairman and Chief Executive Officer. "We believe the market for Jack Henry & Associate' products remains strong, and this stock split, coupled with our growing cash dividend, reflects our confidence. The banking industry continues to need technology solutions to improve productivity."
Jack Henry & Associates, Inc. provides integrated computer systems and processes ATM and debit card transactions for banks and credit unions. Jack Henry markets and supports its systems throughout the United States and has over 2,800 customers nationwide. For additional information on Jack Henry, visit the company's web site at www.jackhenry.com.
