Dollar Financial Corp Announces 3-for-2 Stock Split

Dollar Financial Corp (NASDAQ:DLLR), a leading international diversified financial services company serving primarily unbanked and under-banked consumers for over 30 years, today announced that it had approved a three-for-two split of its common stock. The stock split will be accomplished through a stock dividend issued by the Company. The Board of Directors authorized the stock split principally to obtain wider distribution and greater liquidity for the Company’s common stock.

Stockholders of record as of the close of business on January 20, 2011 will be issued one-half additional share for each share of common stock held on the record date. It is expected that these additional shares will be distributed on February 4, 2011. The stock split will increase the number of shares of common stock outstanding from approximately 24.4 million shares to approximately 36.6 million shares.

No fractional shares will be issued as a result of the stock split. Instead, beneficial stockholders who otherwise would be entitled to receive a fractional share because they hold a number of shares not evenly divisible by one-half will receive an additional one-half share of common stock because each fractional share will be rounded up to the nearest whole share.

About Dollar Financial Corp.

Dollar Financial Corp is a leading international diversified financial services company primarily serving unbanked and under-banked consumers and small business owners for over 30 years. Through its retail storefront locations as well as by other means, such as via the Internet, the Company provides a range of consumer financial products and services in seven countries (Canada, the United Kingdom, the United States, the Republic of Ireland, Sweden, Finland and Poland) to consumers who, for reasons of convenience and accessibility, purchase some or all of their financial services from the Company rather than from banks and other financial institutions. The Company's products, principally its short-term consumer loans, check cashing services, secured pawn loans and gold buying services, provide customers with immediate access to cash for living expenses or other episodic needs. The Company also offers high-value ancillary services, including Western Union money order and money transfer products, electronic tax filing, reloadable VISA(R) and MasterCard(R) debit cards, foreign currency exchange, and other services. In addition, through its branded Military Installment Loan and Education Services, or MILES(R) program, the Company provides fee based services to enlisted military personnel applying for loans to purchase new and used vehicles that are funded and serviced under an exclusive agreement with a major third-party national bank.

At September 30, 2010, the Company's global retail operations consisted of 1,193 locations, including 1,067 company-operated financial services stores and 126 franchised and agent locations, conducting business primarily under the names Money Mart(R), Money Shop(R), Insta-Cheques(R), The Check Cashing Store(R), and MoneyNow(R) in Canada, the United Kingdom, the United States, the Republic of Ireland, and Poland. For more information, please visit the Company's website at www.dfg.com.

Forward Looking Statements

This news release contains forward looking statements, including, among other things, statements regarding the following: pending or recent acquisitions; the Company's future results, growth, guidance and operating strategy; the global economy; the effects of currency exchange rates on reported operating results; the developing regulatory environment in Canada, the U.K., the United States, and other countries; the impact of future development strategy, new stores and acquisitions; litigation matters; expected financing initiatives; and the performance of new products and services. These forward looking statements involve risks and uncertainties, including risks related to: the regulatory environments; current and potential future litigation; the identification of acquisition targets; the integration and performance of acquired stores and businesses; the performance of new stores; the impact of debt financing transactions; the results of certain ongoing income tax appeals; and the effects of new products and services on the Company's business, results of operations, financial condition, prospects and guidance; and uncertainties related to the effects of changes in the value of the U.S. Dollar compared to foreign currencies. There can be no assurance that the Company will attain its expected results, successfully integrate any of its acquisitions, obtain acceptable financing, or attain its published guidance metrics, or that ongoing and potential future litigation or the various FDIC, Federal, state, Canadian, U.K. or foreign legislative or regulatory activities affecting the Company or the banks with which the Company does business will not negatively impact the Company's operations. A more complete description of these and other risks, uncertainties and assumptions is included in the Company's filings with the Securities and Exchange Commission, the Company's annual reports and Forms 10-Q and 10-K. You should not place any undue reliance on any forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce results of any revisions to any of the forward-looking statements contained herein to reflect future events or developments.

Dfc Global Corp (MM) (NASDAQ:DLLR)
Historical Stock Chart
From May 2024 to Jun 2024