Scan-Tron Corp. Tuesday announced a five-for-four stock split, two weeks after the company reported record earnings for its fiscal 1986.
"The board wanted Scan-Tron's shareholders to share in the company's ongoing prosperity," said John T. Saunders, president and chief executive.
The split of Tustin-based Scan-Tron's 3.4-million outstanding shares of common stock is scheduled to be paid Sept. 30 to those holding shares of the company's stock Sept. 15. Scan-Tron said it will pay shareholders cash rather than issue fractional shares.
The company, which makes academic test forms and scoring machines, last month reported earnings of $2.8 million for its fiscal year ended June 30, up 29% from the previous year. Revenue was $25.7 million, up 32%.