Apple computer stock split
Apple Sets 2-For-1 Stock Split
NEW YORK (Reuters)—Apple Computer Inc., whose shares have almost quadrupled in value over the last year on the success of its Ipod music player, on Friday said it has set a 2-for-1 split of its common stock.
Shares of Apple, which said trading will begin on a split-adjusted basis on Feb. 28, rose 1.3 percent.
Shareholders of record at the close of business on Feb. 18 will receive one additional share for every outstanding share held.
Apple said there will be a proportional increase in the number of its shares authorized from 900 million to 1.8 billion.
The stock rose $1.21 to $79.57, in early market trade. Apple's shares over the last 52 weeks have traded in a range of from $21.88 a share to $81.99 a share.
Copyright ?? 2005 Ziff Davis Media Inc. All Rights Reserved. Originally appearing in eWEEK.
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