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By Lorraine Mirabella, The Baltimore Sun | June 11, 2012
Baltimore-based Under Armour Inc. approved a two-for-one split of its outstanding common stock, the first since the sports apparel maker went public in November 2005, the company said Monday. Shares of Under Armour have climbed 65 percent in a one-year period, closing at $103.31 per share on Friday on the New York Stock Exchange. The stock is up 45 percent so far this year. "We are proud of the value we have delivered to our stockholders over the long-term, and we believe this stock split may broaden our investor base and improve the trading liquidity of our stock," said Kevin Plank, chairman, chief executive and president, in a statement.
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NEWS
The Baltimore Sun | June 12, 2012
WEATHER Today's forecast calls for rain and a high temperature near 84 degrees. Tonight is expected to be rainy, with a low temperature around 74 degrees. TRAFFIC Check our traffic updates for this morning's issues as you plan your commute. FROM LAST NIGHT... Police investigated cannibalism suspect in machete report : Three weeks before Alexander Kinyua was charged with dismembering a family friend and eating some of the body parts, police at Morgan State University investigated a report that the suspect had a machete in his dorm room, school officials confirmed Monday.
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BUSINESS
By Donald Saltz | February 21, 1992
As spring waits in the wings, we approach that time of year when most companies hold their annual meetings, and many of them consider those stockholder favorites, splits and dividend increases. It is more common to split the shares and raise dividends at the time of the annual meeting because news from these much-observed yearly forums are generally well publicized.In anticipating what will happen, the alert investor can benefit by studying past actions of boards of directors. He or she will know at what price companies tend to split their shares and how the boards act on the dividend.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | June 11, 2012
Baltimore-based Under Armour Inc. approved a two-for-one split of its outstanding common stock, the first since the sports apparel maker went public in November 2005, the company said Monday. Shares of Under Armour have climbed 65 percent in a one-year period, closing at $103.31 per share on Friday on the New York Stock Exchange. The stock is up 45 percent so far this year. "We are proud of the value we have delivered to our stockholders over the long-term, and we believe this stock split may broaden our investor base and improve the trading liquidity of our stock," said Kevin Plank, chairman, chief executive and president, in a statement.
NEWS
January 6, 1991
Merry-Go-Round Enterprises Inc., a leading specialty apparelo chain based in Joppa, announced that its Board of Directors declared a three-for-two common stock split in the form of a 50 percent stock dividend payable on Jan. 4, 1991, to shareholders of record at the close ofbusiness, Dec. 21, 1990.This action was taken in recognition of the company's continuing growth and with hopes of broadening the stockholder base.After the stock spit, the quarterly dividend rate on the company's common stock will be $.02 per share, which represents a 20 percent increase in the dividend rate.
BUSINESS
January 23, 1997
NationsBank Corp.'s board of directors approved a 2-for-1 stock split of the Charlotte-based company's common shares.The country's fourth largest banking company, with $227 billion in assets, said the stock distribution is payable Feb. 27 to shareholders of record Feb. 7."This stock split underscores the board's confidence that our strong performance will continue," Hugh L. McColl Jr., NationsBank's chief executive, said in a statement. "It also makes it more attractive for individual investors to purchase shares, and thus broaden the ownership base of the company."
BUSINESS
December 5, 1998
With the threat of being removed from Nasdaq's listing, Frederick Brewing Co. said yesterday that it will ask shareholders to approve a 5 to 1 reverse stock split. The Frederick-based brewer would go from about 14.2 million outstanding shares to 2.8 million.Frederick shares have traded at $1 or less since late July, and Nasdaq officials said they must reach a closing price of at least $1 per share for 10 consecutive days by Dec. 14 or be delisted.The company -- whose lines include Blue Ridge and Hempen -- hasn't posted a profit since going public in March 1996.
FEATURES
By Susan Bondy and Susan Bondy,Creators Syndicate | February 4, 1996
A stock I have owned for more than 15 years has just announced a 2-for-1 split. This split will take place in five weeks. Should I sell before the split or hold on?A stock split is simply an accounting procedure. Aside from bookkeeping adjustments, it has no tax consequences and the fundamentals of the company are unaffected.If you own 100 shares of stock selling at $90 each, a 2-for-1 split will leave you with 200 shares at a price of $45 each. A 3-for-1 split would produce 300 shares at $30. After a 3-for-2 split, you would own 150 shares worth $60 each.
BUSINESS
By Andrew Leckey and Andrew Leckey,Tribune Media Services Inc | November 2, 1994
Just do it.CBS Inc. did it. Ford Motor Co. did it. So did Harley-Davidson, St. Paul Cos., Microsoft Inc., McDonald's Corp., Motorola Inc., General Electric Co., Capitol Cities/ABC and Caterpillar Inc.All of those companies announced stock splits this year, a period in which selected companies have seen dramatic rises in corporate earnings and stock prices even though the overall market is up only modestly. While an investor receives additional shares when a stock splits, his proportionate ownership of the company remains unchanged.
BUSINESS
October 24, 1997
Leeds Federal Savings Bank said yesterday that it will increase its dividend by 10 percent after a 3-for-2 stock split.The company also announced earnings of $865,000, or 25 cents a share, for the first quarter ended Sept. 30.That compares with $741,000, or 22 cents a share, for the same period in 1996 before a one-time charge.Dale Douglas, vice president of the 74-year-old Baltimore-based bank, said the company decided to split its stock after the price rose recently to more than $32. "At that price, it gets a little pricey and it is not as easily traded," he said.
BUSINESS
By Hanah Cho, The Baltimore Sun | February 23, 2011
The parent of 1st Mariner Bank, which is under federal orders to raise capital, said Wednesday that it received approval to transfer its stock listing to the Nasdaq Capital Market, a smaller exchange primarily for companies raising capital. First Mariner Bancorp had faced potential delisting and was given until Feb. 22 to meet the minimum bid price of $1 share to remain listed on the Nasdaq Global Market. While listed on the Nasdaq Capital Market, the Baltimore bank holding company will have a 180-day extension, or until Aug. 22, to meet the $1 minimum bid price requirement, according to a regulatory filing.
BUSINESS
December 23, 2009
The parent of 1st Mariner Bank, Baltimore's largest independent bank, will ask stockholders in a special meeting next year to give the board the authority to conduct a reverse stock spit, a move intended to increase the company's stock price, according to a document filed with the Securities and Exchange Commission Tuesday. First Mariner earlier this month was warned by the Nasdaq Stock Market that the bank holding company would be de-listed unless it increased its market value and stock price.
BUSINESS
By Andrew Leckey | November 9, 2008
Q: What does a reverse stock split mean, and why does a company do it? R.P., via the Internet A: In light of this year's drop in stock prices, more companies could be declaring reverse splits. They can be declared by a firm's board of directors without shareholder approval. A reverse stock split doesn't increase the value of your holdings but reduces the number of shares and increases the share price proportionately. For example, a 1-for-2 reverse split means you get half as many shares, but at twice the price.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun reporter | September 26, 2006
Ciena Corp., the Linthicum telecommunications equipment company, said yesterday that it completed a 7-to-1 reverse stock split and the company's stock would trade under a new ticker symbol for 20 days. The reverse split, announced earlier this month and effective after the market closed Friday, reduced the number of Ciena's outstanding shares sevenfold, to 140 million from 980 million, and increased the per-share price by the same proportion. In trading yesterday, shares closed at $29.
BUSINESS
By Stacey Hirsh and Stacey Hirsh,Sun reporter | September 1, 2006
Ciena Corp., the Linthicum telecommunications equipment company, reported yesterday that revenue increased and its loss narrowed in the third quarter, and said it planned to implement a 1-for-7 reverse stock split later this month. The company also issued fourth-quarter earnings estimates that analysts said may have disappointed investors and driven the stock price down as much as 10 percent during trading. Shares of Ciena closed at $3.95, down 36 cents or 8.35 percent. "I think to some degree today's trading of the stock conflicts with a good quarter," said Simon M. Leopold, a senior vice president at Morgan Keegan & Co. Inc. who follows Ciena and does not own shares.
BUSINESS
By LAURA SMITHERMAN and LAURA SMITHERMAN,SUN REPORTER | June 9, 2006
T. Rowe Price Group Inc., the Baltimore-based investment management firm, announced yesterday a 2-for-1 stock split that would make more shares available on the market for investors and double the number of shares in company coffers that could be used to make acquisitions. Under the plan approved by Price's board of directors, stockholders will be paid on June 23 one additional share for each share owned as of June 19. The board also declared a quarterly dividend of 14 cents per share, or half the regular dividend, that will be paid July 11. Price shares rose 13 cents, or less than 1 percent, to $77.47 yesterday on the Nasdaq stock market.
BUSINESS
By Julius Westheimer | November 17, 1999
MANY PEOPLE ask if they should buy a stock when the company announces a stock split.Never buy a stock just because it's going to split. But if it's a good company and you buy the stock before it splits, you will save on commissions and probably show a profit, too.The AAII Journal says: "Stocks of firms that announce splits generally move higher at the time of the announcement, generally advancing 3.5 to 4.5 percent. Investors feel a split announcement is a positive signal about future earnings.
BUSINESS
By William Patalon III and William Patalon III,SUN STAFF | January 6, 2005
After a year in which its stock price rocketed 80 percent, Columbia-based Micros Systems Inc. said yesterday that it would split its stock two-for-one. Micros, a leading global producer of information-management systems for hotels, restaurants and retailers, said it was making the move to attract more investors. Its shares began last year at $43.36 and ended at $78.06 - an increase of 80 percent. They closed yesterday at $70.20, up 33 cents. "This stock split represents our commitment to increasing shareholder value," Tom Giannopoulos, chairman and chief executive of Micros, said.
BUSINESS
October 20, 2004
In the Region Canceled deal sends Advancis stock plunging Shares of biotech company Advancis Pharmaceuticals Corp. plummeted more than 62 percent yesterday after drug giant GlaxoSmithKline said it planned to end a deal to use Advancis' technology. Under a deal signed in July, Glaxo used Advancis patents and technology for its Augmentin drug, which is used to treat bacterial sinusitis and pneumonia. But Glaxo told Advancis Friday that it would terminate the deal by Dec. 15, according to Advancis.
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