BEDFORD, MA -- (MARKET WIRE) -- 01/31/11 --
Progress Software Corporation (NASDAQ: PRGS), a leading software provider that enables enterprises to be operationally responsive, announced today that shares of its common stock will begin trading on a split-adjusted basis with effect beginning today.
As previously communicated by the company in an earlier press release on December 21, 2010, each shareholder of record as of the close of business on January 12, 2011 will be issued one-half additional share for each share of common stock held on that date. The stock split was accomplished through a stock dividend issued by the company. The Board of Directors authorized the stock split principally to obtain wider distribution and greater liquidity for Progress Software's common stock.
The stock split increased the number of shares of common stock outstanding from approximately 44 million shares to approximately 66 million shares.
Progress Software Corporation
Progress Software Corporation (NASDAQ: PRGS) is a global software company that enables enterprises to be operationally responsive to changing conditions and customer interactions as they occur -- to capitalize on new opportunities, drive greater efficiencies and reduce risk. The company offers a comprehensive portfolio of best-in-class infrastructure software spanning event-driven visibility and real-time response, open integration, data access and integration, and application development and deployment -- all supporting on-premises and SaaS/Cloud deployments. Progress Software maximizes the benefits of operational responsiveness while minimizing IT complexity and total cost of ownership. Progress Software can be reached at
www.progress.com or +1-781-280-4000.
John Stewart
Progress Software Corporation
(781) 280-4101
jstewart@progress.com
Claire Rowberry
LEWIS PR
(617) 226-8841
progress@lewispr.com
Source: Progress Software Corporation
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