Publix Board Recommends 5-for-1 Stock Split
LAKELAND, Fla. -- The board of directors of Publix Super Markets, Inc. here has voted to recommend stockholders approve an increase in the company's authorized shares to allow for a 5-for-1 split of its common stock. The stockholder vote will take place at Publix's annual meeting, scheduled for April 18, 2006.
"The proposed stock split reflects the achievements of our associates in delivering premier customer service," said Publix c.e.o. Charlie Jenkins Jr. in a statement. "It is that dedication to customer service that has made us successful for more than 75 years."
Publix's stock is currently valued at $77.25 per share. If Publix's stockholders approve an increase in the authorized shares, the effective date of the stock split will be July 1, 2006.
Publix's last stock split was in 1992, which was a 5-for-1 split. At that time Publix stock was valued at $53 per share.
Publix is owned and operated by its 133,000 employees, with 2004 sales of $18.6 billion. Currently Publix has 867 stores in Florida, Georgia, South Carolina, Alabama, and Tennessee.
"The proposed stock split reflects the achievements of our associates in delivering premier customer service," said Publix c.e.o. Charlie Jenkins Jr. in a statement. "It is that dedication to customer service that has made us successful for more than 75 years."
Publix's stock is currently valued at $77.25 per share. If Publix's stockholders approve an increase in the authorized shares, the effective date of the stock split will be July 1, 2006.
Publix's last stock split was in 1992, which was a 5-for-1 split. At that time Publix stock was valued at $53 per share.
Publix is owned and operated by its 133,000 employees, with 2004 sales of $18.6 billion. Currently Publix has 867 stores in Florida, Georgia, South Carolina, Alabama, and Tennessee.