Diodes Inc. (Westlake Village, CA), a manufacturer and supplier of discrete semiconductors, announced that its common stock will commence trading ex-dividend of a three-for-two stock split, November 26, 2003. The three-for-two stock split in the form of a 50% stock dividend was payable on November 25, 2003. For stock splits/dividends greater than 25%, the ex-date is set as the first business day after the payment date.
Under the terms of the stock dividend announced on November 3, 2003, Diodes' stockholders will receive one additional share for every two shares held. Fractional shares created by the stock dividend will be paid in cash. The dividend will be paid in authorized, but unissued, shares of the common stock of the company. The company anticipates that the number of outstanding shares of stock after the split will be increased from approximately 8.6 million to approximately 12.9 million shares.
