Saturday, October 10, 2015
Current Weather
Loading Current Weather....
Published: Friday, 12/20/2013 - Updated: 1 year ago


The Andersons will split shares 3-for-2 on Feb. 18


Maumee agribusiness The Andersons Inc. on Thursday announced a three-for-two stock split to take place on Feb. 18 for shareholders of record as of Jan. 21.

“Our stock’s recent outstanding performance has enabled us to undertake this endeavor,” Mike Anderson, chairman and chief executive officer of the company, said. The move will grant shareholders one additional share for every two they own.

The company’s stock has risen 103 percent this year.

The stock split decision was announced after the markets closed Thursday. In daily trading, The Andersons’ stock fell $1.38 to close at $86.47 a share.

The agribusiness has about 18.8 million shares of common stock outstanding. With the three-for-two stock split, the numbers of shares outstanding is expected to increase to about 28.2 million.

The company’s board approved a first quarter 2014 cash dividend of 16.5 cents per share, payable Jan. 23 to shareholders of record as of Jan. 2.

Recommended for You

Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. If a comment violates these standards or our privacy statement or visitor's agreement, click the "X" in the upper right corner of the comment box to report abuse. To post comments, you must be a Facebook member. To find out more, please visit the FAQ.

Related stories