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Black & Decker to Consider Expensing Options, Elects Board Member, Declares Dividend
Apr 30, 2003
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At its annual meeting on April 29, 2003, the stockholders of power tool maker The Black & Decker Corporation (Towson, MD, U.S.) adopted a resolution requesting the corporation's Board of Directors to establish a policy of expensing the cost of future stock options issued by the corporation.

In response, Black & Decker announced on Tuesday that its Board will consider a policy of expensing stock options as soon as the Financial Accounting Standards Board completes its project on stock based compensation and clarifies the methodology for valuing stock options.

Also at their annual meeting, the company's stockholders elected the slate of directors proposed by the company, including first-time nominee Kim B. Clark, dean of the Faculty and George F. Baker Professor of Administration at the Harvard Business School. Ms. Clark fills the vacancy left by Malcolm Candlish, who retired as a director after serving for 12 years.

The power tool manufacturer also announced that its Board of Directors declared a quarterly cash dividend of U.S. $0.12 per share of its outstanding common stock payable June 27, 2003 to stockholders of record at the close of business on June 13, 2003.

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