Stella-Jones Announces 4-for-1 Share Split
October 01 2013 - 8:50AM
Marketwired Canada
Stella-Jones Inc. (TSX:SJ) ("Stella-Jones" or the "Company") today announced
that its Board of Directors has approved a 4-for-1 share split of its
outstanding common shares. The 4-for-1 share split will take the form of a share
dividend whereby shareholders will receive three common shares for each common
share held.
The record date for the share dividend will be Monday, October 21, 2013 and the
payment date will be Friday, October 25, 2013.
The Toronto Stock Exchange has determined to implement due bill trading in
connection with the share split. A due bill is an entitlement attached to listed
securities undergoing a material corporate action, such as a share split. In
this instance, the entitlement is to the share dividend. The common shares will
trade on a due bill basis from two trading days prior to the record date (i.e.,
Thursday, October 17, 2013) to the payment date (i.e., Friday, October 25,
2013), inclusively. Any trades that are executed on the Toronto Stock Exchange
during this period will be flagged to ensure purchasers receive the entitlement
to the share dividend. Ex-dividend trading in the common shares on a
split-adjusted basis will commence on Monday, October 28, 2013. The due bill
redemption date will be Wednesday, October 30, 2013.
Shareholders do not need to take any action. Stella-Jones' transfer agent will
send to registered shareholders an advice under the Direct Registration System
indicating the number of additional shares that they receive as a result of the
stock split. These additional shares will be held in book entry form and
registered electronically in the transfer agent's recordkeeping system, unless a
physical share certificate is requested by the registered shareholder.
Beneficial owners with common shares held through a brokerage account will have
their accounts automatically updated to reflect the share split.
No income tax will be payable by Canadian residents in respect of the share
split, and the share split will not dilute shareholders' equity. All share and
per share data for future periods will reflect the share split.
A series of questions and answers explaining some of the key features of the
share split will be posted during the course of the day today on the home page
of the Stella-Jones website at http://www.stella-jones.com, under Latest News.
ABOUT STELLA-JONES
Stella-Jones Inc. (TSX:SJ) is a leading producer and marketer of pressure
treated wood products. The Company supplies North America's railroad operators
with railway ties, timbers and recycling services; and the continent's
electrical utilities and telecommunications companies with utility poles.
Stella-Jones also provides industrial products and services for construction and
marine applications, as well as residential lumber to retailers and wholesalers
for outdoor applications. The Company's common shares are listed on the Toronto
Stock Exchange.
Except for historical information provided herein, this press release may
contain information and statements of a forward-looking nature concerning the
future performance of the Company. These statements are based on suppositions
and uncertainties as well as on management's best possible evaluation of future
events. Such factors may include, without excluding other considerations,
fluctuations in quarterly results, evolution in customer demand for the
Company's products and services, the impact of price pressures exerted by
competitors, the ability of the Company to raise the capital required for
acquisitions, and general market trends or economic changes. As a result,
readers are advised that actual results may differ from expected results.
---------------------------------------------------------------------------
Head Office Exchange Listings Investor Relations
3100 de la Cote-Vertu The Toronto Stock Eric Vachon
Blvd. Exchange Senior Vice-President and
Suite 300 Stock Symbol: SJ Chief Financial Officer
Saint-Laurent, Quebec Transfer Agent Tel.: (514) 940-3903
H4R 2J8 and Registrar Fax: (514) 934-5327
Tel.: (514) 934-8666 Computershare Investor evachon@stella-jones.com
Fax: (514) 934-5327 Services Inc.
---------------------------------------------------------------------------
FOR FURTHER INFORMATION PLEASE CONTACT:
Source:
Stella-Jones Inc.
Contacts:
Eric Vachon, CPA, CA
Senior Vice-President and Chief Financial Officer
(514) 940-3903
evachon@stella-jones.com
Martin Goulet, CFA
MaisonBrison Communications
(514) 731-0000
martin@maisonbrison.com
Stella Jones (TSX:SJ)
Historical Stock Chart
From Jun 2024 to Jul 2024
Stella Jones (TSX:SJ)
Historical Stock Chart
From Jul 2023 to Jul 2024
