Stock splits 3-2

Wednesday, July 19, 2000 | 11:06 a.m.

Shares of Station Casinos Inc. fell $8.62 Tuesday, as a 3-for-2 stock split officially took effect.

Prior to Tuesday's market open, Station issued one additional share for every two shares outstanding. The split increased Station's outstanding shares from 40.3 million to just under 60.5 million, and resulted in a per-share price decline of 35 percent Tuesday, to $16.19.

When adjusted for the 3-2 split, however, Station fell 35 cents Tuesday, a 2 percent fall from Monday's split-adjusted close of $16.54.

Station first announced the stock split May 23.

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