Green Mountain Coffee Roasters, Inc. (NASDAQ: GMCR) today announced that
its Board of Directors has approved a three-for-two stock split to be
effected in the form of a stock dividend. The Company will distribute
one additional share of its common stock to all shareholders of record
at the close of business on May 29, 2009 for every two shares of common
stock held on that date. The shares will be distributed on June 8, 2009
by the Company's transfer agent, Continental Stock Transfer so that the
new shares issued will equal 1.5 times the pre-split number (rounded
down as necessary) with fractional shares paid in cash. The Company’s
common stock will begin trading on a split-adjusted basis on June 9,
2009 at the June 8th closing price divided by 1.5.
“This stock dividend allows us to share our success with our loyal
stockholders to the extent of our authorized stock and underscores our
confidence in the strength of our Company and its prospects for the
future,” said Larry Blanford, GMCR’s President and Chief Executive
Officer. “We remain committed to building stockholder value by providing
consumers with an extraordinary coffee experience while helping to make
a positive difference in the world.”
About Green Mountain Coffee Roasters, Inc.
As a leader in the specialty coffee industry, Green Mountain Coffee
Roasters, Inc. (NASDAQ: GMCR) is recognized for its award-winning
coffees, innovative brewing technology, and socially responsible
business practices. GMCR’s operations are managed through two business
units. The Specialty Coffee business unit produces coffee, tea and hot
cocoa from its family of brands, including Tully’s Coffee®,
Green Mountain Coffee® and Newman’s Own® Organics
coffee. The Keurig business unit is a pioneer and leading manufacturer
of gourmet single-cup brewing systems. K-Cup® portion packs
for Keurig® Single-Cup Brewers are produced by a variety of
licensed brands, including Green Mountain Coffee and Tully’s Coffee.
GMCR supports local and global communities by offsetting 100% of its
direct greenhouse gas emissions, investing in Fair Trade Certified™
coffee, and donating at least five percent of its pre-tax profits to
social and environmental projects. Visit www.GreenMountainCoffee.com
and www.Keurig.com
for more information.
Forward-Looking Statements
Certain statements contained herein are not based on historical fact and
are “forward-looking statements” within the meaning of the applicable
securities laws and regulations. Owing to the uncertainties inherent in
forward-looking statements, actual results could differ materially from
those stated here. Factors that could cause actual results to differ
materially from those in the forward-looking statements include, but are
not limited to, the impact on sales and profitability of consumer
sentiment in this difficult economic environment, the Company’s success
in efficiently expanding operations and capacity to meet growth, the
Company’s success in efficiently and effectively integrating Tully’s
wholesale operations and capacity into its Specialty Coffee business
unit, the ability of our lenders to honor their commitments under our
credit facility, competition and other business conditions in the coffee
industry and food industry in general, fluctuations in availability and
cost of high-quality green coffee, any other increases in costs
including fuel, Keurig’s ability to continue to grow and build profits
with its roaster partners in the office and at home businesses, the
impact of the loss of major customers for the Company or reduction in
the volume of purchases by major customers, delays in the timing of
adding new locations with existing customers, the Company’s level of
success in continuing to attract new customers, sales mix variances,
weather and special or unusual events, as well as other risks described
more fully in the Company’s filings with the SEC. Forward-looking
statements reflect management’s analysis as of the date of this press
release. The Company does not undertake to revise these statements to
reflect subsequent developments, other than in its regular, quarterly
earnings releases.
