All State Properties Holdings, Inc. (Pink Sheets: ATPT) Announces the Extension and Increase of Its Stock Dividend for Common Stock Shareholders
MEMPHIS, TN--(Marketwire - Jan 10, 2012) - All State Properties Holdings, Inc. (PINKSHEETS: ATPT) announced today that shareholders of record at the close of business on January 31, 2012 will receive a Restricted Stock Dividend equivalent to five percent (5%) of their recorded common stock shareholdings. The payable date will be February 10, 2012. The shares will be restricted for a period of one year and will be eligible for free trading on that anniversary date.
This dividend replaces the stock dividend announced earlier on December 6, 2011 for holders of record as of December 31, 2011. The Directors of the Company determined that the holidays did not allow sufficient time for all shareholders to participate in the earlier announced common stock dividend offer. In addition, the Directors increased the percentage of the dividend to 5% reflecting their confidence in the business strategy of the company and as a way to create shareholder value while thanking shareholders for their continued loyalty and support.
All State Properties Holdings confirmed that it is implementing a quarterly dividend program, this being the first of its planned quarterly dividends. Specific dates and instructions for additional quarterly Common Stock Dividends will be released as available.
About All State Properties Holdings, Inc.
All State Properties Holdings, Inc. is engaged in the procurement, development and production of natural resource properties and assets.
Forward-looking Statement
One of our most important responsibilities is to communicate with shareholders in an open and direct manner. Comments are based on current management expectations, and are considered "forward-looking statements," generally preceded by words such as "plans," "expects," "believes," "anticipates," or "intends." We cannot promise future returns. Our statements reflect our best judgment at the time they are issued, and we disclaim any obligation to update or alter forward-looking statements as the result of new information or future events. All State Properties Holdings, Inc. urges investors to review the risks and uncertainties contained within its filings with the Securities and Exchange Commission.
