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twitter3-for-2 stock split announced
Wednesday, May 24, 2000 | 10:43 a.m.
Station Casinos Inc. announced Tuesday plans for a 3-2 split of its common stock, following a 52 percent run-up in the company's stock since early January.
The split will take effect June 30, when shareholders receive one share of stock for every two shares they own. The split will increase Station's outstanding shares from 40.3 million to 60.5 million.
Such stock splits reduce the price of individual shares, making them more affordable to investors. Splits also improve the liquidity of a company's stock by increasing outstanding shares.
Station traded at $27.44 this morning, unchanged.
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