IRVINE, Calif., March 18, 2011 (GLOBE NEWSWIRE) -- Universal Bioenergy (Pink Sheets:UBRG), a publicly traded energy company, announced today that its Board of Directors held a meeting at which the Board approved a proposal to distribute a common stock dividend to its shareholders on a 10 for 1 basis.
The plan would pay or issue one share of common stock for every ten shares of common stock held by the shareholders of record, as of March 31, 2011. The shareholders would be entitled to receive one share of common stock for every ten shares that they own. The appropriate documentation will be filed with the Financial Industry Regulatory Authority (FINRA), the largest independent regulator for all securities firms doing business in the United States.
"The Board of Directors of Universal Bioenergy feels very strongly that our stock is undervalued, and that the Company's current market capitalization does not reflect the Company's true market value. We also want to reward our shareholders for their ongoing support, and to give them a greater stake in what we feel is a good, strong Company that will have even greater value in the future. We believe this dividend will be the first of many. We also anticipate the coming weeks will bring a continued flow of information that will be of interest to our shareholders and the investment community," 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 http://www.globenewswire.com/newsroom/prs/?pkgid=6784 . 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: Media Relations: Solomon Ali 704-837-5705