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Apparel retailer Dress Barn announces split of common stock
08 Mar '06
2 min read
Leading national specialty apparel retailer offering quality career and casual fashion apparel through its dressbarn and maurices brands, Dress Barn, Inc announced that the Board of Directors declared a two-for-one stock split of its common stock.
Shareholders of record as of March 17, 2006 will receive one additional share of common stock for each share of common stock they own on that date.
The additional shares will be distributed on March 31, 2006. The Company had 30,787,392 shares of common stock outstanding as of March 6, 2006.
The Company expects the adjusted number of shares outstanding and adjusted per-share stock price to be reported by the Nasdaq Stock Market, effective April 3, 2006.
Elliot S Jaffe, Chairman of the Board, commented, "They are pleased to take this action as a result of their strong operating results and solid stock price performance.
This is their Company's fifth stock split since their 1983 initial public offering and is intended to make Dress Barn's shares more accessible as well as increasing their shareholder base and market liquidity.
Today's action reflects their belief in the long-term strategy of their Company and underscores their ongoing commitment to enhancing shareholder value."
Dress Barn Inc, is a leading national specialty apparel retailer offering quality career and casual fashion apparel through its dressbarn and maurices brands.
As of February 25, 2006, the Company operated 784 dressbarn stores in 45 states and 513 maurices stores in 39 states.
Shareholders of record as of March 17, 2006 will receive one additional share of common stock for each share of common stock they own on that date.
The additional shares will be distributed on March 31, 2006. The Company had 30,787,392 shares of common stock outstanding as of March 6, 2006.
The Company expects the adjusted number of shares outstanding and adjusted per-share stock price to be reported by the Nasdaq Stock Market, effective April 3, 2006.
Elliot S Jaffe, Chairman of the Board, commented, "They are pleased to take this action as a result of their strong operating results and solid stock price performance.
This is their Company's fifth stock split since their 1983 initial public offering and is intended to make Dress Barn's shares more accessible as well as increasing their shareholder base and market liquidity.
Today's action reflects their belief in the long-term strategy of their Company and underscores their ongoing commitment to enhancing shareholder value."
Dress Barn Inc, is a leading national specialty apparel retailer offering quality career and casual fashion apparel through its dressbarn and maurices brands.
As of February 25, 2006, the Company operated 784 dressbarn stores in 45 states and 513 maurices stores in 39 states.
Dress Barn, Inc
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