900% Stock Dividend!
Walker Financial Corporation Approves Stock Dividend and Sets Record Date
GARDEN CITY, N.Y.--(BUSINESS WIRE)--Nov. 14, 2002--Walker Financial Corporation ("WINT") is pleased to announce that its Board of Directors has declared a 900% stock dividend and set a record date of December 15, 2002.
All owners of the company's common stock on the record date of December 15, 2002 will receive an additional 9 shares of common stock for every one share of common stock owned. This stock dividend will have the same effect as a 1:10 forward stock split which will increase the amount of the company's shares outstanding tenfold. Mitchell S. Segal, President and CEO stated "the Board has approved this stock dividend and made more shares available in the hopes of broadening our shareholder base as the company seeks to interest investors, both individual and institutional, to follow the company's progress."
About Walker Financial Corporation
Walker Financial Corporation, is a Delaware corporation whose common stock trades on the OTC Electronic Bulletin Board under the symbol "WINT." Through our subsidiary, American DataSource ("ADS"), the company is engaged in the business of providing a complete line of administrative services for pre-need funeral and cemetery trust accounts. American DataSource's customers include independent funeral homes, state master trusts and large and small corporations that own funeral homes, cemeteries or a combination thereof. Currently ADS administers approximately $200 million of pre-need trust assets. ADS now provides independent and national funeral home operators with personnel, computer systems and regulatory expertise to properly administer pre-need trust funds.
The company is additionally focusing its efforts on marketing the sale of prearrangements as a voluntary benefit to captive audiences such as corporations, unions and affinity groups. Prearrangements act to protect the future price of a death care arrangement to be performed in the future and is generally funded through either a pre-need insurance policy or by placing monies in trust. Through its licensed subsidiary, NPI Agency, Inc., Walker may earn insurance commissions on prearrangements funded through insurance.
Our Kelly Color subsidiary, based in North Carolina, processes photographs, generally for professional photographers, principally through mail orders.
Introductory Comment - Forward-Looking Statements
Statements contained in this report include "forward-looking statements" within the meaning of such term in Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements involve known and unknown risks, uncertainties and other factors which could cause actual financial or operating results, performances or achievements expressed or implied by such forward-looking statements not to occur or be realized. Such forward-looking statements generally are based on our best estimates of future results, performances or achievements, predicated upon current conditions and the most recent results of the companies involved and their respective industries. Forward-looking statements may be identified by the use of forward-looking terminology such as "may," "can," "will," "could," "should," "project," "expect," "plan," "project," "believe," "estimate," "aim," "anticipate," "intend," "continue," "potential," "opportunity" or similar terms, variations of those terms or the negative of those terms or other variations of those terms or comparable words or expressions. Potential risks and uncertainties include, among other things, such factors as:
