SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
__________________
FORM
8-K
CURRENT
REPORT
PURSUANT
TO SECTION 13 OR 15(d) OF THE
SECURITIES
EXCHANGE ACT OF 1934
Date
of
Report (Date of earliest event reported): August 21,
2008
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STRATTEC
SECURITY CORPORATION
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(Exact
name of registrant as specified in its
charter)
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Wisconsin
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(State
or other jurisdiction of
incorporation)
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0-25150
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39-1804239
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(Commission
File Number)
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(I.R.S.
Employer I.D. Number)
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3333
West Good Hope Road
Milwaukee,
WI
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53209
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(Address
of Principal Executive Offices)
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(Zip
Code)
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(414)
247-3333
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(Registrant's
telephone number; including area
code)
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General
Instruction A.2. below):
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
(17 CFR
240.14d-2(b))
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
(17 CFR
240.13e-4(c))
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Section
7 – Regulation FD
Item
7.01. Regulation FD
Disclosure.
On
August
21, 2008, STRATTEC SECURITY CORPORATION issued a press release (the "Press
Release") announcing the declaration of a quarterly dividend and the expansion
of its stock repurchase program. A copy of the Press Release is
attached as Exhibit 99.1 to this report. The attached Exhibit
99.1 is furnished pursuant to Item 7.01 of Form 8-K.
The
information in this Form 8-K and
the Exhibit attached hereto shall not be deemed "filed" for purposes of
Section
18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933 or the Securities
Exchange Act of 1934, except as shall be expressly set forth by specific
reference in such filing.
Section
9 - Financial Statements and Exhibits
Item
9.01. Financial
Statements and
Exhibits.
(d) Exhibits
99.1 -- Press Release of STRATTEC SECURITY CORPORATION, issued August 21,
2008.
2
SIGNATURE
Pursuant
to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report
to
be signed on its behalf by the undersigned thereunto duly
authorized.
STRATTEC
SECURITY CORPORATION
Date: August
22, 2008
BY
/s/ Patrick J.
Hansen
Patrick
J. Hansen, Senior Vice President
and
Chief
Financial Officer
3
Exhibit
99.1
FOR
RELEASE AT 3:00 PM CST
Contact: Pat
Hansen
Senior
Vice President and
Chief
Financial Officer
414-247-3435
www.strattec.com
STRATTEC
SECURITY CORPORATION
DECLARES
QUARTERLY DIVIDEND
AND
ANNOUNCES
EXPANDED SHARE REPURCHASE PROGRAM
Milwaukee,
Wisconsin – August 21, 2008 -- STRATTEC SECURITY CORPORATION (NASDAQ:STRT)
announced today that its Board of Directors, at its regular quarterly meeting
August 19, 2008, declared a quarterly cash dividend of $0.15 per common
share. The quarterly dividend is payable on October 1, 2008 to
shareholders of record as of September 17, 2008.
In
addition, the Board authorized the repurchase of an additional 200,000 shares
(approximately 6 percent of currently outstanding shares) under its ongoing
stock repurchase program. Shares may be repurchased from time to time
in open market transactions and will be held as Treasury Shares.
This
latest action brings the total repurchase authorization to 3,839,395 shares,
of
which 3,633,833 have been repurchased to date.
STRATTEC
designs, develops, manufactures and markets mechanical locks and keys,
electronically enhanced locks and keys, steering column and instrument panel
ignition lock housings, latches and related access control products for North
American automotive customers, and for global automotive manufacturers through
the VAST Alliance in which it participates with WITTE Automotive of Velbert,
Germany and ADAC Automotive of Grand Rapids, Michigan. The Company’s
history in the automotive business spans 100 years.
Certain
statements contained in this release contain “forward-looking statements” within
the meaning of the Private Securities Litigation Reform Act of 1995. These
statements may be identified by the use of forward-looking words or phrases
such
as “anticipate,” “believe,” “could,” “expect,” “intend,” “may,” “planned,”
“potential,” “should,” “will,” and “would.” Such
forward-looking statements in this release are inherently subject to many
uncertainties in the Company’s operations and business
environment. These uncertainties include general economic conditions,
in particular, relating to the automotive industry, consumer demand for the
Company’s and its customers’ products, competitive and technological
developments, customer purchasing actions, foreign currency fluctuations, and
costs of operations. Shareholders, potential investors and other
readers are urged to consider these factors carefully in evaluating the
forward-lookingstatements
and are cautioned not to place undue reliance on such forward-looking
statements. The forward-looking statements made herein are only made
as of the date of this press release and the Company undertakes no obligation
to
publicly update such forward-looking statements to reflect subsequent events
or
circumstances occurring after the date of this release. In addition,
such uncertainties and other operational matters are discussed further in the
Company’s quarterly and annual filings with the Securities and Exchange
Commission.