Skechers USA, Inc.'s board of directors approved a three-for-one split of the company’s Class A and Class B common stock that will be distributed in the form of a stock dividend.
The stock split is subject to stockholder approval of an amendment to the company’s Certificate of Incorporation to increase the authorized number of Class A and Class B shares. The stockholder vote is expected to take place at a special meeting of stockholders currently scheduled for September 24, 2015. If the Company’s stockholders approve the authorization of additional shares, the stock dividend will be distributed to the stockholders of record as of the close of business on October 2, 2015, with a payment date of October 15, 2015.
“Our decision to adopt this stock split is another indication of our confidence in our business model worldwide, which we believe will continue to generate profitable growth and strong cash flows,” said Robert Greenberg, Skechers CEO. “We are looking forward to continuing to deliver our broad-based collection of men’s, women’s and kids’ footwear to the global market. Personally, I have never been more confident and excited about the future of Skechers.”
