(EBOF) Board of Directors has declared a stock dividend.
Evolution Fuels, Formerly Known as Earth Biofuels, to Make Stock Dividend
9:30a ET May 18, 2009 (GlobeNewswire)
Evolution Fuels, Inc. (Pink Sheets:EBOF) (the "Company") today announced that its Board of Directors has declared a stock dividend to stockholders of record as of June 1, 2009. All shareholders on record as of June 1, 2009 will be issued one (1) additional share of common stock for every common share held.
The Company plans to have the aforementioned stock dividend paid and become effective on June 3, 2009. The payment of the dividend will not require an increase in the total number of authorized shares of common stock nor is there a need for an exchange of certificates. Evolution Fuels trading symbol will change within the next two weeks pursuant to its recently announced name change. The Company will make an announcement when a new ticker is assigned and becomes effective.
Evolution Fuels' CEO, Dennis McLaughlin, stated, "We have elected to implement the described stock dividend to reward our shareholders who have supported the Company through the recent changes in the renewable fuels industry and the Company's business focus. As stated before, the Company's mission is to help the United States achieve energy independence through the creation of downstream renewable fuels retail outlets."
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