Dean Foods Announces 1-for-2 Reverse Stock Split

(RTTNews) - Dean Foods Co. (DF) on Wednesday announced a 1-for-2 reverse stock split of issued Dean Foods common stock.

The company expects the reverse stock split to be effective after the close of trading on August 26, and Dean Foods common stock will begin trading on a split adjusted basis on the New York Stock Exchange at the opening of trading on August 27.

When the reverse stock split becomes effective, every two shares of issued Dean Foods common stock, including shares of common stock held in the company's treasury, will be automatically combined into one share of common stock. This will reduce the number of issued and outstanding shares of Dean Foods common stock from about 188.5 million to about 94.3 million.

In May, the company's stockholders approved a proposal to give the Board of Directors the discretion to effect a reverse stock split following the spin-off of The WhiteWave Foods Co.