Shaw Industries Stock Repurchase Status

Shaw Industries, Inc. declared a cash dividend of $0.05/share for the quarter ended April 1, 2000, payable on May 26, 2000, to shareholders of record May 15, 2000. Shaw also announced the final results in its “Dutch Auction” tender offer that expired April 19, 2000. The Company accepted for payment 3,991,047 shares (approximately 3%) at a purchase price of $15.50 per share. The tender offer, which initially commenced on March 13, 2000, and was originally scheduled to expire April 7, 2000, the Company had offered to purchase up to 12,000,000 shares. Prior to the initial expiration date of the offer, the Company amended the terms of the offer by extending the expiration date to April 19, 2000, and by increasing the offer range to not in excess of $15.50 nor less than $13.50 per share. After completing the offer, the Company has approximately 11.1 million shares remaining authorized for repurchase under its existing stock repurchase program.
From officeinsightTM