Business
Central Garden & Pet Announces Stock Dividend
Will Issue One Share of Class A Common Stock for Every Four Outstanding Shares of Common Stock, Class A Common Stock and Class B Common Stock WALNUT CREEK,
About this update from Central Garden & Pet Company
[{"type":"text","content":"\nWill Issue One Share of Class A Common Stock for Every Four Outstanding Shares of Common Stock, Class A Common Stock and Class B Common Stock\n\n\n WALNUT CREEK, Calif.--(BUSINESS WIRE)--\nCentral Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA) (“Central”) announced today that its board of directors declared a special dividend in the form of one share of Central’s Class A Common Stock for every four outstanding shares of Central’s Common Stock, Class A Common Stock and Class B Common Stock.\n\n\n“We are distributing the Class A Common Stock to enhance the liquidity of the trading market. We believe the enhanced liquidity will benefit stockholders and provide Central with increased flexibility to pursue our growth objectives,” commented Beth Springer, interim CEO of Central Garden & Pet.\n\n\nThe Class A Common Stock is equal in all respects on a per share basis to the Common Stock, except the Common Stock has one vote per share and the Class A Common Stock is non-voting and the trading prices differ.\n\n\nFollowing the distribution, the outstanding shares of Class A Common Stock will increase from approximately 41.1 million to approximately 54.6 million. There will be approximately 11.1 million outstanding shares of Common Stock and 1.6 million shares of Class B Common Stock before and after the distribution.\n\n\nDividend shares of Class A Common Stock are expected to be distributed on February 8, 2024 to stockholders of record on January 8, 2024. The Class A Common Stock is listed on the NASDAQ Global Select Market under the symbol “CENTA.”\n\n\nStockholders are not required to take any action in order to receive the stock dividend, and the book entry accounts of the stockholders of record will automatically be credited with the additional shares representing the stock dividend. If shares are held in a brokerage account, the additional shares will be distributed to the broker on the stockholder’s behalf. The stock dividend is being administered by Computershare Trust Company, N.A., Central’s transfer agent.\n\n\nAbout Central Garden & Pet\n\n\nCentral Garden & Pet Company (NASDAQ: CENT) (NASDAQ: CENTA) understands that home is central to life and has proudly nurtured happy and healthy homes for over 40 years. With fiscal 2023 net sales of $3.3 billion, Central is on a mission to lead the future of the Pet and Garden indu...