Dean Foods Company’s 1-For-2 Reverse Stock Split Comes Into Effect (DF)

Dean Foods Company’s (NYSE: DF) proposed plan for a reverse split of the stock (1 for every 2 shares held), came into effect from August 26, 4:15 EST. This means that post reverse stock split, every two shares of Dean Foods’ common stock will now automatically combined into a 1 share.

The Common stock will start trading on a split adjusted basis from Aug. 27, Tuesday at the New York Stock Exchange. Separately, the Company also reiterated its outlook both for the fiscal third quarter and full-year fiscal.

Speaking to analysts on Monday, the Company’s Chief Financial Officer, Chris Bellairs said that diluted adjusted earnings are expected in the range of 5 cents to 8 cents a share  for the fiscal third  quarter, which translates into 10 cents to 16 cents on post-reverse stock split basis.

For the fiscal 2013, the Company reaffirmed  diluted adjusted earnings of 47 cents to 53 cents a share, which on post reverse stock split basis translates into 94 cents to $1.06 a share..

The Company said that no fractional shares were issued due to the reverse stock split. However, all stakeholders who otherwise be authorized to receive a fraction share will now be offered a cash payment in place of a fractional share, the company said.

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Post Written By: Ed Liston Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.