IRVINE, Calif., May 3, 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 today that its Board of Directors held a meeting, at which the Board reviewed a proposal from management to distribute a common stock dividend to its shareholders on a 10 for 2 basis.

The plan would pay or issue two shares of common stock for every ten shares of common stock held by the shareholders of record, as of June 1, 2012. The shareholders would be entitled to receive two shares of common stock for every ten shares that they own. Pending final approval from the Board, the required documentation will be filed with the U.S. Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA).

Universal Bioenergy is a high growth company that is rapidly growing at double digit rates. The Company achieved record sales of over $71.74 million in 2011. The Company projects to double its revenues in 2012 through more energy acquisitions and higher sales of natural gas, propane, oil and coal. The Company disclosed in its Form 10-K Annual Report for 2011, filed on April 19, 2012, that it was considering various proposals to bring more shareholder value, which would include special dividends, regular stock dividends in cash or stock, preferred stock dividends and warrants or options, subject to SEC guidelines.

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