Flowers declares three-for-two stock split
June 01, 2007
by Eric Schroeder
THOMASVILLE, GA. — The board of directors of Flowers Foods declared a three-for-two split of the company’s stock by means of a 50% stock dividend. The company also increased the quarterly cash dividend by 50%. Both the stock split and the dividend are payable on June 29 to shareholders of record on June 15. As part of the split, shareholders will own three shares for every two shares they held on June 15, and their quarterly dividend rate will be 12.5c per share, or 50c per share on an annualized basis. "The board believes Flowers Foods is in an excellent position to reward our shareholders with an increased dividend, allowing our investors to participate in the company's success," said George E. Deese, chairman, chief executive officer and president. "In addition, the stock split will increase the liquidity of our stock and attract new shareholders."