LANSING, Mich., May 12, 2021 /PRNewswire/ -- NEOGEN
Corporation (NASDAQ: NEOG) announced today that its Board of
Directors has approved a two-for-one stock split. Each stockholder
of record at the close of business on May
26, 2021, will receive one additional share of common stock
for each share held, with new shares expected to be distributed on
June 4, 2021.
As of today, NEOGEN has approximately 53,700,000 shares of
common stock outstanding. After the split, the company will have
approximately 107,400,000 shares of common stock outstanding. The
split is the sixth in the company's 39-year history, the most
recent being a four-for-three stock split in December 2017.
"We are pleased that the Board of Directors has approved this
split, demonstrating their continued confidence in NEOGEN's
long-term growth," says John Adent,
NEOGEN's President and Chief Executive Officer. "With this split,
we will be able to increase the availability of NEOGEN stock and
enhance liquidity within the marketplace, allowing both current and
new investors to share in NEOGEN's success."
Shareholders contemplating a transaction of NEOGEN stock between
the record date and payment date should consult a broker regarding
their entitlement to the split shares.
NEOGEN Corporation develops and markets products dedicated to
food and animal safety. The company's Food Safety Division markets
dehydrated culture media and diagnostic test kits to detect
foodborne bacteria, natural toxins, food allergens, drug residues,
plant diseases, and sanitation concerns. NEOGEN's Animal Safety
Division is a leader in the development of animal genomics along
with the manufacturing and distribution of a variety of animal
healthcare products, including diagnostics, pharmaceuticals,
veterinary instruments, wound care, and disinfectants.
CONTACT: Steven J. Quinlan,
Vice President and CFO, (517) 372-9200
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SOURCE NEOGEN Corporation