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News > Companies
Delta shifts meeting to NY
July 24, 1998: 2:46 p.m. ET

Annual shareholders meeting had been held in Monroe, La., since 1957
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NEW YORK (CNNfn) - Bowing to the changing realities of its global aviation business, Delta Air Lines is moving its annual stockholders meeting from Monroe, La., where the company got its start in 1927 as a crop-duster fighting the boll weevil, to New York City.
     With a sole exception, Atlanta-based Delta has held its shareholders meeting in Monroe every year since 1957, when it became a publicly-traded company. In 1995, Delta convened the meeting in Atlanta to help promote the Olympics.
     Delta's directors voted on the change of venue -- to the Waldorf-Astoria hotel Oct 22 -- during a regular board meeting Thursday, at which they also declared a dividend of 5 cents a share.
     To reassure local residents Delta isn't forsaking its birthplace, the Louisiana Chamber of Commerce said the airline's decision to uproot was dictated by sheer pragmatism.
     Quoting a Delta spokesman, the Chamber said: "Delta treasures and honors its special relationship with Monroe, and we will return our annual meetings to the city of our birth from time to time in the future."
     Delta spokesman Todd Clay said the New York move reflects a growing philosophy among its board members that the firm should hold its annual meetings in a variety of cities, in deference to its far-flung investors.
     The new cash dividend is payable Sept. 1 to shareholders of record Aug. 12.
     Shares of Delta (DAL) were off 2-9/16 at 129-7/8 on light volume of 335,000 shares Friday on the New York Stock Exchange.Back to top

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Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.