After announcing a 3-for-2 split Raven is flying high

During regular trading today, Raven Industries (Nasdaq: RAVN) Board of Directors gave the go ahead for a 3-for-2 stock split; the dividend will be payable on July 13, 2001. Raven's BoD also announced an increase from 0.12 to 0.13 in the company's quarterly cash dividend which will also be paid July 13 to shareholders of record June 25.

On May 17, 2001, Raven reported that ongoing net income for the first quarter increased to $2.2 million, or 70 cents a share, from $1.5 million, or 38 cents per share, a year earlier. Sales from ongoing operations rose 10 percent to $29.0 million from $26.3 million for the first quarter of 2001.

Raven Industries currently has 3.13 million shares outstanding, 1.60 million shares in the float, and 100 million shares authorized for issuance to the public. This is Ravens ninth split since the company was founded.

In recent mid-day trading, RAVN's stock is up $1.30 to $23.80. Over 15 thousand shares of RAVN have already traded hands; the three-month volume average comes in meekly at just 2.95 thousand. The 52-week range for RAVN is $13.00 to $22.64.

About the Company:

Raven Industries, Inc. is a specialized manufacturer of research balloons and related products. The company operates through three business segments: electronics, plastics and sewn products. The electronics segment provides a wide variety of assemblies and controls to the U.S. department of defense and other defense contractors. The plastic segment products include heavy-duty sheeting for industrial and agricultural applications. The sewn segment produces and markets outerwear for a wide variety of recreational activities, including hunting and fishing.

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