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April 21, 2005
Telephone: 609-561-9000
Investor Relations Contact: Stephen Clark x4260
Public Relations Contact: Joanne Brigandi x4240
SJI Stock to Split on June 10
FOLSOM, N.J.
– South Jersey Industries (NYSE: SJI)
shareholders voted today at the company’s annual meeting to increase the
number of common shares authorized for issuance from 20 million to 60 million,
which will permit a two-for-one split of the company's common stock. At the
meeting, then Board Chairman Charles Biscieglia announced that the effective
date of the stock split will be June 10, 2005. Each shareholder of record will
receive one additional share of common stock for every share of SJI stock they
hold as of the close of business on that day. Currently existing certificates
will remain valid and should be retained by shareholders. The split will not
change the proportionate interest a shareholder has in the company. The new
shares will be distributed by June 30, 2005.
In March the SJI board of directors declared
a two-for-one split contingent upon this shareholder approval. In making this
decision, the board cited the ability to attract a broader spectrum of investors
as well as improved market liquidity as compelling considerations.
“The board is extremely pleased with
the company’s performance over the past six years and is confident in
its ability to grow and meet the financial objectives in the years ahead,”
announced Chief Executive Officer and newly-elected Board Chairman Edward J.
Graham. “As we look to the future, our outlook continues to be one of
extraordinary opportunity in a strong regional economy. It’s important
that we keep SJI stock affordable for current and future investors and the stock
split will clearly help us to do just that,” added Graham.
South Jersey Industries is an energy services
holding company for South Jersey Gas, South Jersey Energy, South Jersey Resources
Group, Marina Energy, and South Jersey Energy Service Plus. Visit http://www.sjindustries.com
for more information about SJI and its subsidiaries.
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