PEABODY, Mass.--(BUSINESS WIRE)--May 16, 2006--Beacon Roofing
Supply, Inc. ("Beacon" or the "Company")(Nasdaq: BECN) today announced
that its Board of Directors has approved a three-for-two stock split
that will be distributed in the form of a 50 percent stock dividend.
Beacon's stockholders of record at the close of business on May 31,
2006 will receive one additional share for every two shares of common
stock held on that date. Beacon intends to distribute the shares on
June 12, 2006. The stock split will increase the number of shares of
Beacon common stock outstanding from approximately 29.2 million to
approximately 43.8 million.
In announcing the stock split, Robert Buck, Beacon's President and
Chief Executive Officer, noted that the decision to split Beacon's
stock reflected the Company's continued strong performance as well as
its positive outlook for future earnings growth. Beacon recently
reported record results for the second quarter and first half of
fiscal 2006, which ended on March 31, 2006.
"We believe this stock split will place the market price of
Beacon's common stock in a more attractive range for investors," said
Mr. Buck. "By increasing the number of shares available for sale to
the public, we also believe this action will help increase the
liquidity of the Company's common stock," he added.
About Beacon Roofing Supply, Inc.:
Beacon Roofing Supply, Inc. is a leading distributor of roofing
materials and complementary building products operating 148 branches
in 30 states and in Eastern Canada.
Forward-Looking Statements:
This release contains information about management's view of the
Company's future expectations, plans and prospects that constitute
forward-looking statements for purposes of the safe harbor provisions
under the Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from those indicated by such
forward-looking statements as a result of various important factors,
including, but not limited to, those set forth in the "Risk Factors"
section of the Company's latest Form 10-K. In addition, the
forward-looking statements included in this press release represent
the Company's views as of the date of this press release and these
views could change. However, while the Company may elect to update
these forward-looking statements at some point, the Company
specifically disclaims any obligation to do so other than as required
by federal securities laws. These forward-looking statements should
not be relied upon as representing the Company's views as of any date
subsequent to the date of this press release.
CONTACT: Beacon Roofing Supply, Inc.
David Grace, 978-535-7668 x14
SOURCE: Beacon Roofing Supply, Inc.