MAUMEE, Ohio, Dec. 19, 2013 /PRNewswire/ -- The Andersons, Inc.
(Nasdaq: ANDE) announces today its Board of Directors has approved
a three-for-two split of The Andersons stock.
(Logo: http://photos.prnewswire.com/prnh/20081104/CLTU081LOGO
)
Shareholders will receive one additional share for every two
shares they own on the record date of January 21, 2014, in the form of a dividend to be
distributed as of the close of business of February 18, 2014.
"Our stock's recent outstanding performance has enabled us to
undertake this endeavor," said Chairman and CEO Mike Anderson. "We believe this action will
enhance the liquidity of our shares and enable a larger universe of
investors to purchase our shares."
In addition, the board approved a first quarter 2014 cash
dividend of 16.5 cents ($0.165) per share, payable January 23, 2014, to shareholders of record on
January 2, 2014. This is The
Andersons' 69th consecutive quarterly cash dividend since its
listing on the Nasdaq on February 20,
1996.
There are about 18.8 million common shares outstanding
currently, and 28.2 million expected to be outstanding
post-split.
About The Andersons, Inc.
The Andersons, Inc.
is a diversified company rooted in agriculture. Founded in
Maumee, Ohio, in 1947, the company
conducts business across North
America in the grain, ethanol, and plant nutrient sectors,
railcar leasing, turf and cob products, and consumer retailing. For
more information, visit The Andersons online at
www.andersonsinc.com.
SOURCE The Andersons, Inc.