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Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets and distributes natural gas, propane, petroleum and coal, announced that its subsidiary, NDR Energy Group, sold over 1.86 billion cubic feet (Bcf) of natural gas, setting a new record for the month July, that will generate millions in additional sales revenues.
IRVINE, Calif., July 5, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, propane, and produces petroleum and coal, announced that the Company has received final approval from the Financial Industry Regulatory Authority (FINRA) for its 20% special stock dividend. The Company filed formal notification of the FINRA approval with the full details of the special stock dividend in a Form 8-K Report on July 3, 2012, with U.S. Securities and Exchange Commission (SEC).
On June 6, 2012, the Board of Directors of Universal declared a 20% special stock dividend to its shareholders on a 10 for 2 basis, providing the shareholders with an immediate 20% return.The special dividend will pay all registered shareholders on record as of July 13, 2012, a 20% stock dividend, or 2 shares of common stock, for every 10 shares of common stock held by all shareholders of record. To receive the dividend the investor must be a registered shareholder of record on the Company's books on or before the record date of July 13, 2012. Shareholders who are not registered as of this date will not receive the dividend. Shareholders should review the Form 8-K Report for the full details
The volume of natural gas sold by NDR Energy, set a new record for July, and is the highest in the Company's history for July, and tops the previous record sales of 971.13 million cubic feet of gas in July of 2006. The 1.86 billion cubic feet of natural gas sold in July, is a 300.37% increase over the 619.24 million cubic feet of natural gas sold for the month of July 2011. These sales have already been booked, and sold, and the gas is currently being shipped to its electric utility customers and local distribution companies (LDC) for July.
