Farmer Bros. Declares 10-for-1 Stock Split
From Reuters
Coffee roaster Farmer Bros. Co. said its board declared a 10-for-1 stock split in the form of a one-time stock dividend after the Torrance-based company completed its Delaware reincorporation.
The stock split will entitle each stockholder of record to receive nine additional shares for every share of Farmer Bros. stock held at the close of business April 23. The new shares will be issued May 10.
After the split, the company will have about 16.1 million shares outstanding.
Farmer shares were unchanged at $324.99 in Nasdaq trading.
