February 27, 2006 — The Manitowoc Company, Manitowoc, Wis., announced on Friday that its board of directors has authorized a two-for one stock split of the company's outstanding stock. Record holders of Manitowoc's common stock at the close of business on March 31, 2006, will receive on additional share of common stock for every share of Manitowoc common stock they own as of that date. Manitowoc anticipates that the additional shares resulting from the split will be issued in book-tnry form on the distribution date of April 10, 2006.
The two-for- one split will increase the number of Manitowoc's authorized shares of common stock from 75 million to 150 million and the number of outstanding shares of common stock from approximately 30.4 million to 60.8 million. Manitowoc previously split its stock, on a three-for-two basis, on March 31, 1999, June 30, 1997, and July 2, 1996.
The board of directors also approved a quarterly dividend of 7.0 cents per share, payable on March 20, 2006, to shareholders of record on March 10, 2006.
For more information, visit www.manitowoc.com.
