Home breadcru News breadcru Company breadcru Clothing retailer Carter's proposes 2-for-1 stock split

Clothing retailer Carter's proposes 2-for-1 stock split

01 Mar '06
2 min read

Children's clothing maker Carter's Inc has informed that it proposes to split the company's common stock on a two-for-one basis. This intended stock split would be accomplished through a stock dividend entitling each stockholder of record to receive one additional share of common stock for every one share owned.

Fred Rowan, the company's Chairman and CEO, said, "Because we have consistently delivered growth in operating and financial results, our share price has increased more than 60 percent over the last twelve months and more than 200 percent since our initial public offering in October 2003."

"This proposed stock split reflects our continued confidence in our long-term growth, and we believe it will broaden the market for and widen the distribution of the company's stock," he added.

To accomplish the stock split, we will ask the company's stockholders to approve an increase in the number of authorized shares of the company's common stock from 40,000,000 to 150,000,000.

The company's Board of Directors recommends that the company's stockholders approve this increase at the company's May 11th 2006 annual stockholders meeting. Following stockholder approval and subject to then-current market conditions, the company intends to announce the specific timing of the stock split and declare the stock dividend.

Carter's Inc is the largest branded marketer in the United Statesof apparel exclusively for babies and young children. It markets its Carter's and OshKosh B'Gosh brands, two of the most trusted and recognized brands in the marketplace.

Carter's Inc

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