The Cheesecake Factory slices out a 3-for-2 stock dividend

During regular trading today, The Cheesecake Factory's (Nasdaq: CAKE) Board of Directors declared a 3-for-2 stock split on the company's common shares. The 50% dividend will be distributed on June 18, 2001 to all shareholders on record as of June 4, 2001.

CAKE currently has approximately 31.5 million shares outstanding, 21.1 million in the float, and roughly 150.0 million shares authorized for issuance to the public. Today's announcement is CAKE's forth split; the last split was a 3-for-2 that occurred in 1998 when shares were trading at $47.88.

The stock is currently down $1.28 to $34.50, in recent mid-day trading. Shares of CAKE were heavily sought after today, as 825,000 shares changed owners; the three-month average volume is 367,400 thousand. The 52-week trading range is $25.13 to $48.44.

About the Company:

The Cheesecake Factory operates 41 upscale, full-service casual dining restaurants in 16 states and the District of Columbia. The Cheese Cake Factory is widely known for its wide range decadent deserts and of course its world famous cheesecakes. The Company also has three licensed bakery cafes under "The Cheesecake Factory" name that are operated by another foodservice company.

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