Dean Foods Provides Update on Special Cash Dividend of $15.00 Per Share
DALLAS, March 28 /PRNewswire-FirstCall/ — Dean Foods Company is providing an update on the previously announced special cash dividend of $15.00 per share. The special dividend, which remains subject to the completion of financing, is expected to be paid on April 2, 2007 to shareholders of record as of March 27, 2007.
The total number of basic shares outstanding at the close of trading on the record date of March 27, 2007 was 129.6 million, resulting in an expected aggregate total dividend of approximately $1.94 billion.
Dean Foods common stock will start trading on an ex-dividend basis beginning Tuesday, April 3, 2007, in accordance with NYSE rules. Any shareholder of record as of March 27, 2007 who sells shares prior to or on the payment date of April 2, 2007 also sells their right to receive the special dividend.
Shareholders are advised to contact their financial advisor for advice regarding their individual situations.
About Dean Foods
Dean Foods Company is one of the leading food and beverage companies in the United States. Its Dairy Group division is the largest processor and distributor of milk and other dairy products in the country, with products sold under more than 50 familiar local and regional brands and a wide array of private labels. The Company’s WhiteWave Foods subsidiary markets and sells a variety of well-known dairy and dairy-related products, such as Silk(R) soymilk, Horizon Organic(R) milk and other dairy products and International Delight(R) coffee creamers. WhiteWave Foods’ Rachel’s Organic(R) brand is the largest organic milk brand and third largest organic yogurt brand in the United Kingdom.
Some of the statements in this press release are “forward-looking” and are made pursuant to the safe harbor provision of the Securities Litigation Reform Act of 1995. These “forward-looking” statements include statements relating to, among other things, our plans to pay the special dividend, the estimated amount of the total size of the special dividend, and our plans to complete the new credit facility. These statements involve risks and uncertainties that may cause results to differ materially from the statements set forth in this press release. Our ability to pay the special dividend will depend upon our successful completion of the new credit facility. The forward-looking statements in this press release speak only as of the date of this release. The Company expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations with regard thereto or any changes in the events, conditions or circumstances on which any such statement is based.
Investor Contact: Barry Sievert Senior Director, Investor Relations(214) 303-3437 Media Contact: Marguerite Copel Vice President, Corporate Communications (214) 721-1273
Dean Foods Company
CONTACT: investor, Barry Sievert, Senior Director, Investor Relations,+1-214-303-3437, or media, Marguerite Copel, Vice President, CorporateCommunications, +1-214-721-1273, both of Dean Foods Company
Web site: http://www.deanfoods.com/