For Release: July 13, 2000
Altera Announces Stock Split
San Jose, Calif., July 13, 2000 - Altera Corporation (Nasdaq: ALTR) today announced that it will carry out a 2-for-1 stock split effected in the form of a stock dividend. The record date for the stock split will be Wednesday, July 26, 2000, and shareholders of record on that date will receive one additional share of Altera common stock for every share held.
Altera's transfer agent will mail the new stock certificates representing the additional shares on or about Thursday, August 10, 2000. The market price for Altera common stock as reported by Nasdaq will reflect the stock split beginning Friday, August 11, 2000.
Rodney Smith, President and CEO stated, "The stock split is in response to the increase in the market price for the company's stock throughout the second quarter. We feel this is another good opportunity to increase the availability of shares for trading, and possibly to broaden our stockholder base. Our last stock split was completed on May 19, 1999."
In connection with the stock split, the Board of Directors has authorized doubling from 12.0 million to 24.0 million the number of shares authorized for repurchase under the company's share repurchase program. Under the program, which was previously authorized by the Board of Directors, the shares may be purchased in the open market from time to time at the discretion of the company's management. Since the inception of the repurchase program in 1996, the company has repurchased 8.8 million shares of the 12.0 million shares previously authorized.
Fax on Demand:
Copies of Altera's announcement are available from its fax-on-demand service. In the U.S. and Canada, to request a copy, call 1-800-789-ALTR. International users may dial their local International Access Code followed by 1-408-894-0466.
Altera Corporation, The Programmable Solutions Company®, was founded in 1983 and is a leading supplier of programmable logic devices (PLDs). Altera's CMOS-based PLDs are user-programmable semiconductor chips that enhance flexibility and reduce time-to-market for companies in the communications, computer peripheral, and industrial markets. By using high performance devices, software development tools, and sophisticated intellectual property cores, system-on-a-programmable-chip (SOPC) solutions can be created with embedded processors, memory, and other complex logic together on a single PLD. Altera common stock is traded on The Nasdaq Stock Market under the symbol ALTR. More information on Altera is available on the Internet at http://www.altera.com.
|
Literature
> 
