US dairy group Dean Foods has provided investors with further information about its previously announced special cash dividend of US$15.00 per share.
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The company said that the special dividend, which remains subject to the completion of financing, is expected to be paid on 2 April, 2007 to shareholders of record on 27 March, 2007.
The total number of basic shares outstanding at the close of trading on the record date of 27 March, 2007 was 129.6m, resulting in an expected aggregate total dividend of around $1.94bn.
Dean Foods’ common stock will start trading on an ex-dividend basis from 3 April, 2007, in accordance with NYSE rules, the company said. Dean Foods also pointed out that any shareholder of record as of 27 March who sells shares prior to or on the payment date will also be selling their rights the special dividend.
