The board of The Middleby Corporation (Elgin, IL), maker of commercial appliances and residential appliances, declared a three-for-one split of the company’s common stock.
The company will affect the stock split by issuing a stock dividend. Each stockholder of record on June 16, 2014, will receive two additional shares of common stock for each share held on the record date. Shares issued pursuant to the stock split will be distributed on June 26, 2014.
As a result of the stock split, the total number of shares of common stock outstanding will increase from approximately 19 million to approximately 57 million.
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