Record Date: 11/21; Distribution Date: 12/1
On November 9, 2023, Worthington Industries
WOR
, Inc. (NYSE: WOR, $65.45, Market Capitalization: $3.3 billion), a leading industrial manufacturing company, announced that its Board of Directors had approved the previously announced separation of its Steel Processing business (Worthington Steel). As per the company press release, each WOR shareholder will receive one ordinary share of Worthington Steel (Spin-Off) for every one ordinary share of WOR. The record date for the distribution for common stockholders is 11/21. To effect the separation, the Company’s Board of Directors has authorized a pro rata distribution to WOR common stockholders as of the close of business on the record date of 100% of the outstanding shares of Worthington Steel.
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