Fragrances maker Parlux Fragrances Inc announced that the Board of Directors approved a 2-for-1 split of the company's common stock effected in the form of a stock dividend.
The stock will be payable June 16th 2006 to shareholders of record as of May 31st 2006. Stockholders will receive one additional share for each share held on that date.
Ilia Lekach, Chairman and CEO, said, "The stock split is a result of the company's solid growth and price performance. Over the past three fiscal years our significant growth in revenues has provided increased earnings per share of over 300 percent and the market price of our stock has almost tripled. We believe that this stock split, combined with our plans for continuing growth, will increase retail ownership and provide pricing levels that are accessible to a broader group of investors."
Parlux Fragrances Inc is a manufacturer and international distributor of prestige products. It holds licenses for Paris Hilton fragrances, watches, cosmetics, handbags and other small leather accessories, and sunglasses, in addition to licenses to manufacture and distribute the designer fragrance brands of Perry Ellis, Guess?, XOXO, Ocean Pacific (OP), Maria Sharapova, Andy Roddick, babyGund, and Fred Hayman Beverly Hills.
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