Bandag declares quarterly dividend
For the second consecutive quarter, Bandag Inc.'s board of directors declared a regular quarterly dividend of $.33 per share on its common stock, Class A common stock and Class B common stock. The dividend is payable April 20, 2005, to shareholders of record at the close of business on March 28, 2005.
Bandag's common stock closed at $46 a share on the New York Stock Exchange on March 15. That compares to a 52-week high of $51.30 and low of $38.32. Bandag's Class A common stock closed at $41.58 a share vs. a 52-week high of $47.65 and low of $35.38.
Bandag´s Class B common stock is unlisted.
Bandag recently reported consolidated net earnings of $30.8 million on consolidated net sales of $232.8 million for the fourth quarter ended Dec. 31, 2004.
Speedco Inc., Bandag's quick truck lube subsidiary, contributed $16.9 million to fourth quarter sales. Bandag has an 87.5% interest in Speedco.