Steve Madden (NASDAQ:SHOO), a leading designer and marketer of fashion footwear and accessories for women, men and children, today announced that its Board of Directors has declared a three-for-two stock split, in the form of a stock dividend, of the Company's outstanding shares of common stock.
The stock split will entitle all stockholders of record at the close of business on September 20, 2013 to receive one additional share of Steve Madden common stock for every two shares of common stock held on that date. The additional shares are expected to be distributed to stockholders on or about September 30, 2013 by the Company's transfer agent. As a result of the stock split, the number of outstanding shares of the Company's common stock will increase to approximately 68.8 million shares from approximately 45.9 million shares outstanding prior to the split.
Answers to frequently asked questions regarding the stock split will be available on the Company's web site in the Investor Relations section.
About Steve MaddenSteve Madden designs, sources and markets fashion-forward footwear and accessories for women, men and children. In addition to marketing products under its owned brands including Steve Madden, Steven by Steve Madden, Madden Girl, Freebird by Steven, Stevies, Betsey Johnson, Betseyville, Report Signature, Report, Big Buddha, Wild Pair, Cejon and Mad Love, the Company is the licensee of various brands, including Olsenboye for footwear, handbags and belts and Elizabeth and James, Superga, l.e.i. and GLO for footwear. The Company also designs and sources products under private label brand names for various retailers. The Company's wholesale distribution includes department stores, specialty stores, luxury retailers, national chains and mass merchants. The Company also operates 117 retail stores (including the Company's three online stores). The Company licenses certain of its brands to third parties for the marketing and sale of certain products, including for ready-to-wear, outerwear, intimate apparel, eyewear, hosiery, jewelry, fragrance, luggage and bedding and bath products.