CHESTERFIELD, Mo., Sept. 19 /PRNewswire-FirstCall/ -- Reliv International, Inc. (Nasdaq: RELV), an international manufacturer and network marketer of nutritional supplements and other food technology products, today announced that the Board of Directors has declared a stock dividend of one share for each 5.25 issued and outstanding shares to all holders of record as of October 11, 2002. This stock dividend will represent approximately 19% of the issued and outstanding shares of Reliv.
Robert L. Montgomery, Chief Executive Officer of Reliv, stated that, "Our management and Board of Directors decided to declare a stock dividend in light of our now consistent profitability, our continued sales momentum and the resulting increases in both the market price of our stock and its liquidity. We want all of our shareholders to participate in and benefit from Reliv's success which is reflected in the market for our stock."
David Kreher, Chief Operating Officer and Chief Financial Officer for Reliv, said that, "Over the past nine months, the market price of Reliv's stock has risen from $1.25 per share (as of December 31, 2001) to over $4.00 per share presently and, in that time, average daily trading volume in the stock has increased from approximately 4,200 shares per day to over 35,000 shares per day.
"We expect our results for the third and fourth quarters of 2002 to continue to reflect the momentum and profitability levels we have achieved recently," he said. "We are continuing to experience growth in sales, sponsoring of new distributors and profitability compared to prior years results."
The stock dividend will be distributed to all shareholders of record of Reliv as of October 11, 2002. The actual distribution of the stock dividend will be effected within approximately 14 days after the record date. Fractional shares will not be issued. The Company will issue payment to shareholders for fractional shares based upon the closing price per share for the day preceding the record date.
Reliv International, Inc., based in suburban St. Louis, manufactures and distributes several lines of food products, including nutritional and fiber supplements, diet management products, functional foods and sports drink mixes. Its proprietary product lines include an extensive line of soy-based products. Reliv International's common stock trades on The Nasdaq Stock Market(R) under the symbol RELV.
NOTE: Any statement released by Reliv International, Inc. that is forward-looking is made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward-looking statements involve risk and uncertainties that may affect the Company's business prospect and performance. This includes economic, competitive, governmental, technological and other factors discussed in the Company's filings with the SEC on forms 10-K and 10-Q.