Green Mountain Coffee (GMCR) Announces 3-for-2 Stock Split
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Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) announced that its Board of Directors has approved a three-for-two stock split to be effected in the form of a stock dividend.
The Company will distribute one additional share of its common stock to all shareholders of record at the close of business on May 29, 2009 for every two shares of common stock held on that date. The shares will be distributed on June 8, 2009 by the Company's transfer agent, Continental Stock Transfer so that the new shares issued will equal 1.5 times the pre-split number (rounded down as necessary) with fractional shares paid in cash. The Company’s common stock will begin trading on a split-adjusted basis on June 9, 2009 at the June 8th closing price divided by 1.5.
CEO Larry Blanford said, "This stock dividend allows us to share our success with our loyal stockholders to the extent of our authorized stock and underscores our confidence in the strength of our Company and its prospects for the future."
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