MILWAUKEE, Feb. 2 /PRNewswire-FirstCall/ -- Smith Investment Company
(Pink Sheets: SMIC) announced today that its board of directors has determined
that Smith Investment will not pay a dividend in the first quarter of 2009.
In reaching its determination, the Smith Investment board of directors
considered the costs expected to be incurred to complete the proposed merger
of Smith Investment with and into a subsidiary of A. O. Smith Corporation and
the board's desire to preserve financial flexibility in light of current
uncertainty in economic and financial conditions.
About Smith Investment Company
Smith Investment Company (SMIC - PK), headquartered in Milwaukee, Wis.,
owns a control position in A. O. Smith Corporation (AOS - NYSE).
This document shall not constitute an offer to sell or the solicitation of
an offer to buy any securities, nor shall there be any sale of securities in
any jurisdiction in which such offer, solicitation, or sale would be unlawful
prior to registration or qualification under the securities laws of any such
jurisdiction.
SOURCE Smith Investment Company