Strattec accelerates dividends to avoid additional taxes for shareholders

Milwaukee-based Strattec Security Corp. announced that its board of director is declaring a special cash dividend of 20 cents per common share to be paid on Dec. 31 to shareholders of record as of Dec. 21.

Due to potential increases in U.S. Federal income tax rates on dividends in 2013, the board decided to accelerate the cash dividends that would normally have been paid in March and June of the company’s current fiscal year which ends June 30, 2013.
STRATTEC designs, develops, manufactures and markets automotive access control products, including mechanical locks and keys, electronically enhanced locks and keys, steering column and instrument panel ignition lock housings, latches, power sliding side door systems, power lift gate systems, power deck lid systems, door handles and related products.

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