Superior Uniform Group Inc. (SGC), Seminole, Fla., manufacturer of uniforms, career apparel and accessories, announced that its board of directors has authorized a two-for-one stock split of its outstanding common shares.
Each shareholder of record at the close of business on Jan. 12, 2015 will receive one additional share of common stock for each share held on the record date, with a distribution date of Feb. 4, 2015. This stock split will not change the proportionate interest that a shareholder maintains in the company. As of Dec. 29, 2014, there were approximately 6.8 million SGC diluted common shares outstanding. Following the stock split, Superior Uniform Group’s outstanding common shares will increase to approximately 13.6 million shares.
Superior Uniform Group is undertaking the two-for-one stock split to make its common shares more readily accessible to the investment community, increase and broaden the company’s shareholder base, and improve liquidity of the market for SGC common shares. The company expects that its common stock will begin trading on a post-split basis on Feb. 5, 2015.
“We are pleased to announce the stock split as it reflects the Board’s confidence in the long-term drivers for our business model and our ability to continue to achieve our strategic growth objectives,” Michael Benstock, CEO of Superior Uniform Group, commented.
For more information, call (800) 727-8643 or visit www.SuperiorUniformGroup.com.
