Delta Natural Gas Company, Inc. President and CEO Glen R. Jennings announced that on Feb. 17, Delta Natural Gas Company, Inc. declared a 2-for-1 stock split for common shareholders of record as of the close of business on April 17.
Subject to regulatory approval, the additional stock is expected to be issued and the stock split completed, on or about May 1.
This means that for every one share of Delta Natural Gas Company, Inc. common stock that a shareholder owns as of April 17, that shareholder will, upon completion of the stock split, own two shares of Delta Natural Gas Company, Inc. common stock.
No action is required by shareholders at this time.
Once Delta Natural Gas receives the required regulatory approvals, expected in April 2012, additional information will be sent to shareholders.
“We would like to thank all shareholders for their continued support and trust in Delta Natural Gas Company, Inc.,” Jennings said. “This stock split not only reflects the confidence your board of directors has in the future of Delta Natural Gas Company, Inc., but in the natural gas industry as a whole.”
At its meeting Feb. 17, the Delta Natural Gas Company board of directors authorized a quarterly stock dividend of 35 cents per share to be paid March 15 to all common shareholders of record as of March 1.