Teledyne Splits Shares, OKs Spinoffs: Teledyne Inc.’s...
- Share via
Teledyne Splits Shares, OKs Spinoffs: Teledyne Inc.’s board of directors declared a 5-for-1 common stock split, payable March 8 to shareholders of record Feb. 8. The board also approved the Los Angeles-based firm’s previously reported spinoff of its insurance and finance units to a new company named Unitrin Inc. The spinoff is expected to be effective March 31. Distribution of Unitrin’s stock will be on a post-split basis, with shareholders receiving one share of the new firm for each share of Teledyne.
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.