Sunoco Announces Distribution Ratio for Special Stock Dividend to Shareholders; Sunoco Shareholders Will Receive 0.53046456 of a Share of Suncoke
Sunoco, Inc. (NYSE: SUN) today announced the distribution ratio for the previously announced special stock dividend to its shareholders of its equity interest in SunCoke Energy, Inc. (NYSE: SXC). Sunoco shareholders will receive 0.53046456 of a share of SunCoke common stock for every share of SunCoke common stock held as of the close of business on January 5, 2012.
The distribution will be made on January 17, 2012, in the form of a pro rata common stock dividend to all Sunoco shareholders of record on the January 5, 2012 record date. No fractional shares of SunCoke common stock will be distributed. Instead, Sunoco shareholders will receive cash in lieu of any fraction of a share of SunCoke common stock that they otherwise would have received.
