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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
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FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): APRIL 22, 2004
IDEX CORPORATION
(Exact Name of Registrant as Specified in its Charter)
DELAWARE 1-10235 36-3555336
(State or other jurisdiction of (Commission File Number) (I.R.S. Employer
incorporation or organization) Identification No.)
630 DUNDEE ROAD
NORTHBROOK, ILLINOIS 60062
(Address of principal executive offices, including zip code)
(847) 498-7070
(Registrant's telephone number)
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ITEM 5. OTHER EVENTS AND REGULATION FD DISCLOSURE
On April 22, 2004, IDEX Corporation issued a press release announcing
a 3 for 2 Stock Split and an increase in its quarterly cash dividend
of 29 percent. A copy of this press release is included below.
IDEX CORPORATION ANNOUNCES 3-FOR-2 STOCK SPLIT;
INCREASES QUARTERLY CASH DIVIDEND 29 PERCENT
NORTHBROOK, IL, APRIL 22, 2004 - IDEX CORPORATION (NYSE: IEX) today
announced that its Board of Directors has declared a 3-for-2 split of
the company's common stock and approved a 29 percent increase in the
quarterly cash dividend.
The 3-for-2 stock split of IDEX common shares, which will be effected
in the form of a 50 percent stock dividend, will be payable May 28,
2004, to shareholders of record as of May 14, 2004. Shareholders will
receive one additional share of IDEX common stock for every two
shares that they own as of the record date. Any fractional shares
resulting from the split will be paid in cash based on the closing
market price of the common stock on the record date. This action
reflects the third split of the company's common stock since its
initial public offering in 1989.
Separately, the Board of Directors has approved a 29 percent increase
in the company's regular quarterly cash dividend to $0.18 per common
share (or $0.12 per post-split share), payable July 30, 2004, to
shareholders of record as of July 15, 2004.
IDEX Chairman and Chief Executive Officer Dennis K. Williams said,
"IDEX has an excellent track record and its prospects for the future
remain bright. The dividend increase reflects the Board's confidence
in the company's outlook as we continue to pursue our operational
excellence and global growth initiatives. Our strong performance also
has created the opportunity for a stock split which we believe, over
time, will help enhance liquidity in the trading of IDEX shares for
current and prospective shareholders."
FORWARD-LOOKING STATEMENTS
This news release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Exchange Act of 1934, as amended. These statements
may relate to, among other things, capital expenditures, cost
reductions, cash flow, and operating improvements and are indicated
by words or phrases such as "anticipate," "estimate," "plans,"
"expects," "projects," "should," "will," "management believes," "the
company believes," "the company intends," and similar words or
phrases. These statements are subject to inherent uncertainties and
risks that could cause actual results to differ materially from those
anticipated at the date of this news release. The risks and
uncertainties include, but are not limited to, the following:
economic and political consequences resulting from terrorist attacks
and wars; levels of industrial activity and economic conditions in
the U.S. and other countries around the world; pricing pressures and
other competitive factors, and levels of capital spending in certain
industries - all of which could have a material impact on order rates
and IDEX's results, particularly in light of the low levels of order
backlogs it typically maintains; its ability to make acquisitions and
to integrate and operate acquired businesses on a profitable basis;
the relationship of the U.S. dollar to other currencies and its
impact on pricing and cost competitiveness; political and economic
conditions in foreign countries in which the company operates;
interest rates; capacity utilization and the effect this has on
costs; labor markets; market conditions and material costs; and
developments with respect to contingencies, such as litigation and
environmental matters. The forward-looking statements included here
are only made as of the date of this news release, and management
undertakes no obligation to publicly update them to reflect
subsequent events or circumstances. Investors are cautioned not to
rely unduly on forward-looking statements when evaluating the
information presented here.
ABOUT IDEX
IDEX Corporation is a manufacturer of proprietary pumps and metering
products, dispensing equipment, and other engineered products with
leading positions in niche markets. Its products are sold to a wide
range of industries throughout the world. IDEX shares are traded on
the New York Stock Exchange and Chicago Stock Exchange under the
symbol "IEX."
FOR FURTHER INFORMATION ON IDEX CORPORATION AND ITS BUSINESS UNITS,
VISIT THE COMPANY'S WEB SITE AT WWW.IDEXCORP.COM.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
IDEX CORPORATION
/s/ Dominic A. Romeo
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Dominic A. Romeo
Vice President and Chief Financial Officer
April 22, 2004