CNH BOARD OF DIRECTORS ANNOUNCES ANNUAL DIVIDEND
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March 5, 2003 (Lake Forest, IL ) The Board of Directors of CNH Global N.V. (NYSE:CNH) has recommended a dividend of $.05 per share for the year 2002. Prior to the declaration of the dividend, the company expects to complete its recapitalization plan and implement the 1-for-5 reverse split of CNH common stock announced separately today. On a post-split basis, the dividend will be $.25 per share.
Declaration of the dividend is subject to approval at the Annual Shareholders Meeting, which will be held on Thursday, May 8, 2003, at the company's registered offices in Amsterdam, the Netherlands. If approved, the dividend will be payable on June 2, 2003 to shareholders of record at close of business on May 19, 2003.
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CNH is the number one manufacturer of agricultural tractors and combines in the world, the third largest maker of construction equipment, and has one of the industry's largest equipment finance operations. Revenues in 2002 totaled $10 billion. Based in the United States, CNH's network of dealers and distributors operates in over 160 countries. CNH agricultural products are sold under the Case IH, New Holland and Steyr brands. CNH construction equipment is sold under the Case, FiatAllis, Fiat Kobelco, Kobelco, New Holland, and O&K brands.
ment the 1-for-5 reverse split of CNH common stock announced separately today. On a post-split basis, the dividend will be $.25 per share. Declaration of the dividend is subject to approval at the Annual Shareholders Meeting, which will be held on Thursday, May 8, 2003, at the company's registered offices in Amsterdam, the Netherlands. If approved, the dividend will be payable on June 2, 2003 to shareholders of record at close of business on May 19, 2003.