Wednesday May 14, 04:42 PM
LCA Vision hits low after slashing dividend; stock is halted
NEW YORK (Thomson Financial) - LCA Vision Inc. Wednesday said its board approved a dividend cut to 6 cents from 18 cents.
The company halted its stock, which last traded at $9.52, down 20 cents from its Tuesday close of $9.72. The shares hit an intraday low of $9.50, their lowest price since November (Frankfurt: A0S9N7 - news) 2003. The stock is down about 78% over the past 52 weeks.
The new dividend is payable on June 6 to shareholders of record on May 26.
The laser vision correction company also said that the number of bookings for preoperative appointments were 'significantly softer' than in prior years or periods, down 20% so far this quarter.
LCA also said that all five of its board nominees were elected to serve one-year terms. The directors are Steven Straus, the company's chief executive officer; E. Anthony Woods, its non-executive chairman; William Bahl, the president of Bahl & Gaynor Investment Counsel; John Gutfreund, a senior advisor of Collins Stewart (LSE: CLST.L - news) , and John Hassan, a consultant with BSC Ventures.
Ryan Vlastelica
rv/pc
COPYRIGHT
Copyright Thomson Financial News Limited 2007. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
NNNN
|
|
|
Send Article by Email
Send Article by IM
Blog This with Y! 360
Printable View
