IRVINE, Calif., June 6, 2012 (GLOBE NEWSWIRE) -- Universal Bioenergy Inc., (OTCMarkets:UBRG), a publicly traded independent diversified energy company, that markets natural gas, propane, and produces petroleum and coal, announced today that its Board of Directors held a meeting, at which the Board passed a resolution declaring a common stock dividend to its shareholders on a 10 for 2 basis.
In planning for its corporate growth and expansion, and as a reward to its shareholders for their loyalty, the Board has voted to pay all shareholders on record, a 20% stock dividend. The plan would pay or issue 2 new shares of common stock, for every 10 shares of common stock held by the shareholders of record, as of June 13, 2012. The required documentation will be filed with the U.S. Securities and Exchange Commission, (SEC), and the Financial Industry Regulatory Authority (FINRA), the largest independent regulator for all securities firms doing business in the United States.
New share certificates will be mailed directly to all qualifying shareholders of record by the Company's Transfer Agent. The Company recommends that all stockholders contact their brokers to ensure their mailing information is current so that there will not be any issues in the delivery of the new stock certificates.
Universal's Senior Vice President Solomon Ali states, "We have strong confidence in the future growth of the Company, and therefore are considering a number of proposals to bring more value to our loyal shareholders. We believe this will reward our loyal shareholders for their ongoing support, and to give them a greater stake in our Company. We also anticipate making some other significant announcements about our expansions plans to the public shortly that will be of great interest to our shareholders and the investment community."
The Company disclosed in its Form 10-K Annual Report for 2011, filed on April 19, 2012, that it was considering various proposals to bring more shareholder value, which would include special dividends, regular stock dividends in cash or stock, preferred stock dividends and warrants or options, subject to SEC guidelines.
About Universal Bioenergy Inc.
Founded in 2004, Universal Bioenergy Inc., is a publicly traded independent diversified energy company that produces and markets natural gas, petroleum, coal and propane. We market energy resources to the largest public utilities, electric power producers and local gas distribution companies in the U.S., that serve millions of commercial, industrial and residential customers. We are also engaged in the acquisition and development of existing or recently discovered oil and gas fields, leases and surface coal mines. For more information visit www.universalbioenergy.com
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Safe Harbor Statement - There are matters discussed in this media information that are forward looking statements within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. Such statements are only forecasts and actual events or results may differ materially from those discussed. For a discussion of important factors which could cause actual results to differ from the forward looking statements, refer to Universal Bioenergy Inc.'s most recent annual report and accounts and other SEC filings. The company undertakes no obligation to update publicly, or revise, forward looking statements, whether as a result of new information, future events or otherwise, except to the extent legally required.