IRVINE, Calif., June 13, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy, Inc. (Pink Sheets:UBRG), a publicly traded energy company, announced today that its Board of Directors approved a new Resolution to finalize the distribution of a common stock dividend to its shareholders on a 10 for 1 basis. On June 13, 2011, formal notification of the dividend was filed in a Form 8K with the SEC. All shareholders are encouraged to review the information in the Form 8K for the full details.
This resolution supersedes the previous one for the stock dividend that was approved by the Company on March 18, 2011. This change was made for legal and administrative reasons, and was conditioned upon final acceptance by the Financial Industry Regulatory Authority (FINRA). The plan will pay one share of stock, for every ten shares of stock held by the shareholders of record as of July 1, 2011.
The final documentation for the dividend was re-submitted to the transfer agent and to FINRA for final notification. The Company received the final notification and confirmation from FINRA on June 8, 2011 announcing the final approval to distribute the common stock dividend to our shareholders. The final notification is posted on FINRA's OTC Bulletin Board website at . The final date of payment or distribution of the dividend to the shareholders of record will be on July 8, 2011.
"Some shareholders may view this as a potential for dilution and a devaluation of their shares; however, we believe there are many valuable benefits to our shareholders. Our shareholders will receive an immediate 10% increase in the quantity of the shares they own and a 10% return on their investment. This will reward our loyal shareholders for their ongoing support, and to give them a greater stake in our Company," states Solomon Ali, Universal's Senior Vice President.
About The Company
Universal Bioenergy, Inc. is an alternative energy company, and intends to create and market natural and alternative energy sources including natural gas, solar, biofuels, wind, synthetic fuels and related energy technology products. It plans to build the company into a prominent player in alternative energy.
The Universal Bioenergy Inc. logo is available at
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.
CONTACT: Solomon Ali 949-757-4170