UBRG News Universal Bioenergy Announces FINRA Fina
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UBRG News Universal Bioenergy Announces FINRA Final Approval of 20% Special Stock Dividend
2012-07-05 06:00 ET - News Release
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.
Universal's Senior Vice President, Solomon Ali states, "I am very pleased that we have completed the approval process with FINRA, and have filed the required documents with the SEC. One of our major goals is to reward our loyal shareholders for their continued support, and this special dividend is a very good way for us to demonstrate that."
This information will also serve to correct an error in a Press Release dated June 6, 2012, that indicated that the Record Date for the dividend was June 13, 2012. The correct Record Date as indicated in the Press Release on June 26, 2012 and the Form 8-K Report is July 13, 2012.
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