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Oil & Gas News: Lufkin Industries To Split 2-For-1

May 7, 2010 (FinancialWire) — Lufkin Industries, Inc. (NASDAQ: LUFK) said that its board has approved a two-for-one stock split.  

The split will be effected by issuing one additional share of common stock for every outstanding share of common stock, and the additional shares will be distributed on June 1, 2010, to stockholders of record at the close of business on May 19, 2010.

Lufkin had around 15 million common shares outstanding at May 5.  After the stock dividend, there will be around 30.0 million shares of Lufkin common stock outstanding.  

Texas-based Lufkin Industries sells and services power oilfield pumping units, foundry castings and power transmission products.

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