Hopkinton, - May 03, 2000 -
EMC Corporation (NYSE:EMC), the world leader in information storage, today announced a two-for-one stock split in the form of a 100% stock dividend. The record date for the stock split will be May 19, 2000, and the distribution date will be June 2, 2000. EMC is hosting its Annual Meeting of Stockholders today in Southborough, Mass., for the first time providing live video web streaming for investors worldwide.
"We are at the dawn of the information age," said EMC Chief Executive Officer Mike Ruettgers. "The impact of information on the growth of the global economy and the way people live is only beginning to be felt. EMC is at the center of this phenomenon, providing the most advanced information infrastructure technology to businesses and other organizations around the world. Information storage spending is forecasted to grow at a faster rate than any other technology infrastructure category over the next few years and we expect to extend our leadership position."
"Our role in the information economy is making EMC one of the most recognized stocks among individual investors," Ruettgers continued. "This split will lower our share price and make EMC stock even more accessible to investors who are seeking the perfect blend of old-economy strength and new-economy innovation."
The stock split will be EMC's sixth since 1992. EMC's most recent stock split, a two-for-one, was in May 1999. EMC stock began trading publicly in 1986. A stockholder who bought 1,000 shares of EMC stock at the company's initial public offering in April 1986 at $16.50 per share, for a total investment of $16,500, and held the stock would own 36,000 shares today valued at more than $5 million (based on the closing price of $139.6875 on May 2, 2000).
During the 1990s, EMC achieved the highest single-decade performance of any listed stock in the history of the New York Stock Exchange. From January 1, 1990, through the close of trading on May 2, 2000, EMC stock has risen more than 103,000% -- more than any U.S. publicly traded company over that time period (based on the closing price of $139.6875 per share on May 2, 2000).
EMC Corporation (NYSE:EMC) is the world leader in information storage systems, software, networks and services, providing the information infrastructure for a connected world. Information about EMC's products and services can be found at http://www.emc.com.
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