Cal-Maine Foods Announces Two-For-One Stock Split - Quick Facts

(RTTNews) - Cal-Maine Foods Inc (CALM), a maker of shell eggs, said Friday its board approved a two-for-one stock split of its common stock and Class A common stock that will be effected via a stock dividend.

Shareholders will receive one share of stock for each share they hold. The new shares will be distributed on October 31 to shareholders of record at the close of business on October 17.

In July, the board recommended to the shareholders of the company that its Amended Certificate of Incorporation be amended to provide for sufficient authorized shares to facilitate a two-for-one split.

At the company's annual meeting of shareholders held today in Jackson, Mississippi, shareholders approved the amendment to increase the number of authorized shares of $0.01 par value common stock to 120 million from 60 million and increase the number of authorized shares of $0.01 par value Class A common stock to 4.8 million from 2.4 million.

The company will continue to pay dividends on all common shares and Class A common shares pursuant to Cal-Maine Foods' variable dividend policy.