UPDATE: Cognex Announces Two-for-One Stock Split

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Cognex Corporation
CGNX
today announced that the company's Board of Directors has declared a two-for-one split of its common stock to be issued in the form of a stock dividend. The additional shares will be distributed on September 16, 2013 to shareholders of record on August 26, 2013. "Today's announced stock split reflects the Board of Directors' confidence in Cognex's financial strength and in its prospects for the future. Given the increase in the price of Cognex stock over the past year, we want to ensure that it remains accessible to a broad range of investors,” said Dr. Robert J. Shillman, Chairman of Cognex. “Our company's growth has accelerated in recent quarters as a result of our long-term strategic initiatives in developing new products and expanding our sales channels. It's gratifying to see our efforts begin to deliver for Cognex and its shareholders,” said Robert J. Willett, Chief Executive Officer of Cognex. Trading of Cognex shares on a split-adjusted basis will begin on August 27, 2013. About Cognex Corporation Cognex Corporation designs, develops, manufactures and markets a range of products that incorporate sophisticated machine vision technology that gives them the ability to “see.” Cognex products include barcode readers, machine vision sensors and machine vision systems that are used in factories, warehouses and distribution centers around the world to guide, gauge, inspect, identify and assure the quality of items during the manufacturing and distribution process. Cognex is the world's leader in the machine vision industry, having shipped more than 850,000 vision-based products, representing over $3 billion in cumulative revenue, since the company's founding in 1981. Headquartered in Natick, Massachusetts, USA, Cognex has regional offices and distributors located throughout North America, Japan, Europe, Asia and Latin America. For details visit Cognex online at http://www.cognex.com.
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Posted In: NewsStock Split
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