DAYVILLE, Conn., Mar 18, 2004 /PRNewswire-FirstCall via Comtex/ -- United Natural Foods,
Inc. (Nasdaq: UNFI), today announced that its Board of Directors approved a
two-for-one split of the Company's common stock that will be payable in the
form of a stock dividend. Stockholders will receive one additional share of
the Company's common stock for each share of common stock held on the record
date of March 29, 2004. The additional shares will be delivered on or about
April 19, 2004 by the Company's transfer agent, Continental Stock Transfer &
Trust Company.
As of March 17, 2004, the Company had approximately 19.8 million shares of
common stock outstanding. Following payment of the dividend, this number will
increase to approximately 39.6 million. The market price for the Company's
common stock, as reported by the Nasdaq National Market, will reflect the
stock split beginning on April 20, 2004.
"We are pleased to announce our first stock split as a public company,
which creates an opportunity to broaden our shareholder base and increase the
availability of our common stock for trading," said Steven Townsend, Chief
Executive Officer of United Natural Foods. "We have experienced solid growth
over the last few years and believe our focused business strategy, combined
with our position as America's premier Natural and Certified Organic
distributor, provides the foundation for delivering continuous, long-term
value for our stockholders."
About United Natural Foods
United Natural Foods, Inc. carries and distributes over 32,000 products to
more than 14,000 customers nationwide. The Company serves a wide variety of
retail formats including conventional supermarket chains, natural product
superstores, independent retail operators and the food service channel. For
more information on United Natural Foods, Inc., visit the Company's web-site
at www.unfi.com .
"Safe Harbor" Statement under the Private Securities Litigation Reform Act
of 1995: Statements in this press release regarding the Company's business
that are not historical facts are "forward-looking statements" that involve
risks and uncertainties. For a discussion of such risks and uncertainties,
which could cause actual results to differ from those contained in the
forward-looking statements, including but not limited to general business
conditions, the impact of competition and the Company's dependence on
principal customers, see "Risk Factors" in the Company's quarterly report on
Form 10-Q filed with the Securities and Exchange Commission on March 16, 2004,
and its other filings under the Securities Exchange Act of 1934, as amended.
Any forward-looking statements are made pursuant to the Private Securities
Litigation Reform Act of 1995 and, as such, speak only as of the date made.
The Company is not undertaking to update any information in the foregoing
reports until the effective date of its future reports required by applicable
laws. Any projections of future results of operations should not be construed
in any manner as a guarantee that such results will in fact occur. These
projections are subject to change and could differ materially from final
reported results. The Company may from time to time update these publicly
announced projections, but it is not obligated to do so.
SOURCE United Natural Foods, Inc.
Rick D. Puckett, Chief Financial Officer of United Natural
Foods, +1-860-779-2800; or General Information, Joseph Calabrese,
+1-212-445-8434, or Analyst Information, Vanessa Schwartz, +1-212-445-8433,
both of Financial Relations Board
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