SOURCE: Atlas America, Inc.

April 27, 2007 10:10 ET

Atlas America, Inc. Announces 3-for-2 Stock Split and Declares Initial Cash Dividend

PHILADELPHIA, PA -- (MARKET WIRE) -- April 27, 2007 -- Atlas America, Inc. (NASDAQ: ATLS) ("the Company") announced today that its Board of Directors has approved a 3-for-2 stock split to be effected in the form of a stock dividend. Shareholders of record as of May 15, 2007 will receive one additional share of common stock for each two shares of common stock they own on that date. The shares will be distributed on or about May 25, 2007.

As of today, there are approximately 17.9 million shares of the Company's common stock issued and outstanding. After the split, there will be approximately 26.8 million shares of the Company's common stock outstanding. The Company expects the adjusted number of shares outstanding and adjusted per-share stock price to be reported by the NASDAQ Stock Market, effective May 28, 2007.

The Company also announced today that its Board of Directors has declared its first quarterly cash dividend of $0.05 per share of common stock, payable on May 15, 2007, to shareholders of record on May 8, 2007.

Atlas America, Inc. owns a 79% common unit interest and all of the Class A and management incentive interests in Atlas Energy Resources, LLC (NYSE: ATN), an 83% interest in Atlas Pipeline Holdings, L.P. (NYSE: AHD), a limited partnership which owns the general partner interest in Atlas Pipeline Partners, L.P. (NYSE: APL), and all the incentive distribution rights and 1,641,026 common units of APL. For more information, please visit our website at www.atlasamerica.com, or contact Investor Relations at bbegley@atlasamerica.com.

Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Atlas America, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in the Company's reports filed with the SEC, including quarterly reports on Form 10-Q, reports on Form 8-K and annual reports on Form 10-K.

Contact Information

  • Contact:
    Brian Begley
    Investor Relations
    Atlas America, Inc.
    1845 Walnut St. - Suite 1000
    Philadelphia, PA 19103
    (215) 546-5005
    (215) 561-5692 (facsimile)