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Dodge City Daily Globe - Dodge City, KS
  • Construction supplier gives $210M to KSU, OSU, OU

  • A company that supplies construction materials has split a $210 million stock donation among Kansas State University, Oklahoma State University and the University of Oklahoma.Oklahoma City-based Dolese Bros. Co. recently announced the gift after completing the stock distribution. The supplier of ready-mix concrete, crushe...
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  • A company that supplies construction materials has split a $210 million stock donation among Kansas State University, Oklahoma State University and the University of Oklahoma. Oklahoma City-based Dolese Bros. Co. recently announced the gift after completing the stock distribution. The supplier of ready-mix concrete, crushed stone, gravel and sand is using the gift as a way to transfer ownership of the company to its employees. Here's how it works: The company is gradually buying back the stock from the universities. Until the buy-back is complete, the universities own the company, although they have no voting or operational rights. The universities spend the buy-back payments — at least $500,000 annually per school — to help more students earn engineering degrees. The unusual gift was the vision of the company's late owner, Roger Dolese.

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