Published:
Flotek Industries, Inc. Announces 2-for-1 Stock Split
Flotek Industries, Inc. (AMEX: FTK) announced
that its Board of Directors has approved a 2-for-1 split of its common
stock, effected in the form of a stock dividend. Today, Flotek has
approximately 9 million shares outstanding. The stock split entitles all
Flotek stockholders of record as of the close of business on July 3, 2007,
to receive one additional share of common stock for each share of common
stock held on that date with fractional shares being rounded up to the next
whole share. The additional shares will be distributed to stockholders on
July 11, 2007 by the Company's transfer agent, American Stock Transfer.
Flotek stock will begin trading at the split-adjusted price on July 12,
2007.
"In the last four years, we have worked hard to provide an above market
return and improved liquidity for our shareholders. Flotek has returned
approximately 6,000 percent in capital appreciation to our shareholders
since 2004," said Jerry D. Dumas, Chairman and Chief Executive Officer.
"Our focus, discipline and passion continue to grow as we find more ways to
add value to our company through organic growth, research and development,
and strategic acquisitions. I am confident about our future and feel this
stock split reflects our optimism."
Flotek manufactures and markets innovative specialty chemicals, downhole
drilling and production equipment, and manages automated bulk material
handling, loading and blending facilities. It serves major and independent
companies in the domestic and international oilfield service industry. For
additional information, please visit Flotek's web site at
www.flotekind.com.
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Daily NewsTags: ,Energy and Utilities:OilandGas, ,AMEX0001,AMEX0001,TX,HOUSTON, TX
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