Patrick Industries approves stock split of its common stock

Patrick Industries (PATK) announced that on November 18 the Company’s Board of Directors approved a three-for-two stock split of the Company’s common stock, to be effected in the form of a stock dividend, payable as one additional share of common stock for every two shares of common stock held. Shareholders will receive cash in lieu of any fractional share of common stock that they otherwise would have been entitled to receive in connection with the split. The stock dividend is effective for shareholders of record as of the close of business on November 29 and will be payable on December 13. The Company’s stock will begin trading on a post-split basis on December 16. The split will increase the number of outstanding shares of the Company’s common stock from approximately 22.4M to 33.6M.