World Fuel Services Corporation Announces Two-for-One Stock Split
November 17 2009 - 4:22PM
Business Wire
World Fuel Services Corporation (NYSE:INT) announced today that
its Board of Directors has approved a two-for-one stock split of
its common stock. The record date for the stock split is November
30, 2009. Shareholders of record on that date will receive one new
share of common stock for each share owned. The distribution of
shares to be issued pursuant to the stock split will be made on or
about December 7, 2009.
“We remain focused on executing our long-term strategy,
providing a superior offering to our customers and improving our
global supply relationships,” stated Paul H. Stebbins, chairman and
chief executive officer of World Fuel Services Corporation. “We
believe that the stock split will improve the liquidity in our
stock and represents our continued commitment to enhancing
shareholder value,” stated Ira M. Birns, executive vice president
and chief financial officer.
About World Fuel Services
Corporation
Headquartered in Miami, Florida, World Fuel Services is a global
leader in the marketing and sale of marine, aviation and land fuel
products, as well as related services. World Fuel Services sells
fuel and delivers services to its clients at more than 6,000
locations in more than 190 countries, including airports, seaports,
tanker truck loading terminals and other customer storage
locations. With 44 strategically located global offices (including
satellite offices), World Fuel Services offers its clients a
value-added outsource service for the supply, quality control,
logistical support and price risk management of marine, aviation
and land fuel.
The Company’s global team of market makers provides deep domain
expertise in all aspects of marine, aviation and land fuel
management. World Fuel Services’ marine customers include
international container and tanker fleets and time-charter
operators, as well as the United States and foreign governments.
Aviation customers include commercial airlines, cargo carriers and
corporate clientele, as well as the United States and foreign
governments. Land customers include petroleum distributors, retail
petroleum operators, and industrial, commercial and government
accounts. For more information, call 305-428-8000 or visit
http://www.wfscorp.com.
Information Relating to
Forward-Looking Statements
With the exception of historical information in this news
release, this document includes forward-looking statements that
involve risks and uncertainties, including, but not limited to,
quarterly fluctuations in results, the creditworthiness of
customers and counterparties and our ability to collect accounts
receivable and settle derivatives contracts, fluctuations in world
oil prices or foreign currency, changes in political, economic,
regulatory, or environmental conditions, adverse conditions in the
markets or industries in which we or our customers operate, our
failure to effectively hedge certain financial risks associated
with the use of derivatives, non-performance by counterparties or
customers on derivatives contracts, the integration of acquired
businesses, uninsured losses, our ability to retain and attract
senior management and other key employees and other risks detailed
from time to time in the Company’s Securities and Exchange
Commission filings. Actual results may differ materially from any
forward-looking statements set forth herein.
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