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GARDEN GROVE, CALIFORNIA (May 10, 2003) -- The Board of Directors of Sunny Morning Products approved a two-for-one split of Sunny Morning Products capital stock for shareholders of record at the close of business on June 2, 2003.
The Board also approved a 15% increase in the corporation's quarterly dividend, raising it from 10 cents to 11.5 cents per share on a post-split basis. This increase marks the 20th consecutive year of increased annual dividends.
The stock split and dividend increase were announced at Sunny Morning Products' Annual Meeting of Shareholders.
The stock split increases the number of authorized shares from 10.8 million to 21.6 million. Existing Sunny Morning Products stock certificates will remain valid and outstanding. Certificates representing the additional shares to which shareholders of record at the close of business on June 2, 2003 are entitled as a result of the split will be mailed to them on July 1, 2003. Each share retains the same voting rights, qualifications, limitations and restrictions as Sunny Morning Products' current outstanding capital stock.
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Sunny Morning Products is the leading producer and distributor of fresh orange juice, sports drink, and fresh citrus gift products. It has a long history as a successful organization.
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