Marketer of everyday basic apparel, HanesBrands said it has executed its previously announced 4-for-1 stock split.
“The New York Stock Exchange began reporting the split-adjusted number of shares outstanding and per-share stock price beginning from March 4,” HanesBrands informed in a press release.
On March 3, 2015, HanesBrands stockholders received three additional shares of common stock for each share of common stock they owned to shareholders of record on February 9, 2015.
“Hanes has generated significant value for shareholders through execution of its business strategies, stock price appreciation and quarterly cash dividends,” CEO Richard Noll said.
He added, “We have posted record results for sales, adjusted operating profit, and adjusted earnings per share the past two years and our guidance for 2015 would represent another year of record results.”
“We are taking advantage of our powerful company-owned global supply chain, Innovate-to-Elevate product platforms and acquisitions,” he noted.
Hanes, which began paying quarterly cash dividends in June 2013, has increased its dividend rate twice and has since paid approximately $220 million in accumulative cash dividends to shareholders.
On a split-adjusted basis, the company’s stock price closed at $31.99 on March 3, compared with its September 6, 2006 opening on the NYSE at $4.95 per share.
HanesBrands markets basic apparels under brands, including Hanes, Champion, Playtex, DIM, Bali, Maidenform, Flexees, JMS/Just My Size, Wonderbra, Nür Die, Lovable and Gear for Sports. (AR)
Fibre2fashion News Desk - India