In addition, David G. Fubini, Robert S. Shapard, and Noel A. Williams will join the board of directors of Leidos shortly following the distribution.SAIC is a Fortune 500 scientific, engineering, and technology applications company that uses deep domain knowledge to solve problems of vital importance to the nation and the world, in national security, energy and the environment, critical infrastructure, and health, the company said. Thereafter, the respective boards of directors of Leidos and Science Applications will determine the dividend policy of each company.SAIC expects that on or about Sept. 16, 2013, "ex-distribution" trading of Leidos common stock will commence on the NYSE under the "LDOS" ticker and "when-issued" trading of Science Applications common stock will commence on the NYSE under the "SAIC" ticker. This was a 405 for 1000 reverse split, meaning for each 1000 shares of LDOS owned pre-split, the shareholder now owned 405 shares. The cash dividend will be payable by Leidos on Oct. 30, 2013. It operates through the following three segments:...Data are provided 'as is' for informational purposes only and are not intended for trading purposes.
After the transfer agent’s completion of such sale, the stockholders who would have otherwise received fractional shares will receive a cash payment in an amount equal to their respective pro rata shares of the total net proceeds of that sale.The distribution does not require stockholder approval, and no action or payment is required by SAIC stockholders to receive shares of Science Applications common stock. "As we move forward in Leidos, the talent of our team and the passion they have for serving our customers will be the foundation of our future success."As stated above, the board has approved a 1-for-4 reverse stock split of Leidos common stock that will be effectuated immediately after the spin-off and prior to the market open on Monday, Sept. 30, 2013. View the latest Leidos Holdings Inc. (LDOS) stock price, news, historical charts, analyst ratings and financial information from WSJ. SAIC intends to use the net proceeds it receives from this dividend for general corporate purposes.In addition to the directors named above who will move to the Science Applications board, Robert A. Bedingfield and Steven R. Shane, as well as Anthony J. Moraco, chief executive officer of Science Applications, will join the board of directors of Science Applications upon completion of the spin-off. Leidos pays out 26.31% of its earnings out as a dividend. Please see the "Historical Prices" tab for adjusted price values. 14 brokers have issued 12-month price targets for Leidos' stock. For example, a 1000 share position pre-split, became a 405 share position following the split. The number of authorized but unissued shares will also be proportionately reduced in accordance with the reverse stock split ratio.