Hain board approves 2-for-1 stock split

by Eric Schroeder
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LAKE SUCCESS, N.Y. — The Hain Celestial Group, Inc. said its stockholders have approved an increase in the number of authorized shares of the company’s common stock from 100 million shares to 150 million shares. The company’s board of directors previously had approved a 2-for-1 stock split in the form of a 100% dividend subject to approval by stockholders to increase the company’s authorized shares.

Stockholders of record at the close of business on Dec. 12, 2014, will receive one additional share of Hain Celestial common stock for every one share of Hain Celestial common stock owned on that date. The additional shares are expected to be distributed on or about Dec. 29, 2014.

Hain’s share price closed at $108.57 on Nov. 25. In pre-market trading on Nov. 26, it was quoted as high as $110.50.

For the first quarter of the fiscal year ended Sept. 30, Hain Celestial had net income of $18,855,000, equal to 37c per share on the common stock, down 32% from $27,655,000, or 58c per share, in the prior-year period. Net sales for the quarter advanced 32% to $631,257,000, which compared with $477,484,000 in the first quarter of the previous year.
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