In the company’s news yesterday,
Kraig Biocraft Laboratories, Inc. announced that its Board of Directors has approved a stock dividend. According to the press release, shareholders of record as of the close of business on the record date will be issued nine additional shares for each share of Common Stock held.
CEO Kim K. Thompson commented, “This stock dividend is intended to lay the groundwork for the growth of the Company. It is part of our ongoing efforts to improve trading liquidity, broaden ownership, promote capital investment and enhance shareholder value. This action is enabled by the Company’s continued success in the laboratory and is consistent with the Board’s commitment to take actions designed to create a wider distribution of the Company’s stock.”
The Board of Directors has directed the company’s management to speak with market oversight authorities and its transfer agents as soon as is practical to designate a record date.
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