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Stock Split

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BUSINESS
October 18, 1986 | The Inquirer Staff
Tasty Baking Co. yesterday authorized a 3-for-2 stock split and an increase in its quarterly dividend from 15 cents to 22 1/2 cents on a pre-split basis. Both changes are payable on Dec. 1 for shareholders of record on Oct. 31. Nelson G. Harris, president and chief executive officer, said the increased cash dividend "is a reflection of the continuing improved earnings" for the company. The stock split, he said, is intended to create additional shares and liquidity in the marketplace.
BUSINESS
April 6, 1989 | The Inquirer Staff
Hunt Manufacturing Co., the Philadelphia maker of office products and arts- and-crafts supplies, yesterday declared a 3-for-2 stock split, payable May 8 to shareholders of record on April 19. Ronald J. Naples, chairman and chief executive officer, said at Hunt's annual meeting that, barring unforeseen circumstances, profits for the fiscal year through November should be $1.68 to $1.78 a share, up from $1.51 a share in the year ended Nov. 27,...
NEWS
March 15, 2011
C&D Technologies Inc., the Blue Bell maker of industrial batteries, today said its 1-for-35 reverse stock split, announced in late January, became effective, and the company has reduced the number of common shares outstanding from 600 million to 25 million. The company said its over-the-counter shares were trading today at about $10. C&D in December restructured its finances to cut its debt to $50 million from $175 million.    - Reid Kanaley
BUSINESS
August 3, 2005 | By Jeff Gelles INQUIRER STAFF WRITER
PPL Corp. boosted its dividend by nearly 9 percent and announced a two-for-one stock split yesterday, as it reported a 33 percent jump in quarterly operating earnings. The Allentown company reported an 8 percent increase in total revenue, to $1.48 billion, for the quarter that ended June 30. But its earnings increase was mitigated by unusual factors such as the sale of an Arizona power plant. Including those charges, its net income decreased to $128 million from $148 million. PPL attributed much of its success to "vastly improved electricity delivery revenues in Pennsylvania," bolstered by a 7 percent rise in transmission and distribution rates that went into effect Jan. 1 for its Pennsylvania customers.
BUSINESS
March 7, 2013 | By Reid Kanaley
PolyMedix Inc., a struggling Radnor biotech firm that has been considering strategic alternatives that may include a sale of the company, announced a plan for a reverse stock split to increase the per-share price of its common stock. Share are currently traded over the counter, and the company said it's goal would be to list on the Nasdaq. The company called a shareholder meeting for March 15 to vote on the proposal. PolyMedix, which is developing a treatment for skin infections, in January replaced then-CEO Nicholas Landekic with CFO Edward F. Smith as interim chief executive.
NEWS
December 31, 2012
Q: If my stock splits 2-for-1, what happens to my cost basis? - R.Z., Houston A: Your basis splits 2-for-1 along with the stock. Imagine that you bought 100 shares of Meteorite Insurance (ticker: HEDSUP) for $60 each, paying a $10 commission. Your cost basis is $6,010 - or $60.10 per share. After the split, you have 200 shares and your basis is still $6,010, or $30.05 per share. Always add the purchase commission to your cost basis and subtract the sale commission from your proceeds - you'll save a few tax dollars that way. If you're paying a lot more than $10 per trade in commissions, you might want to find a less-expensive brokerage.
BUSINESS
May 1, 1987 | The Inquirer Staff
The board of directors of Unisys Corp. yesterday proposed a 3-for-1 stock split and approved an increase in the quarterly cash dividend to 69 cents from 65 cents. The stock split is subject to approval by stockholders. The dividend at the new rate is payable Aug. 7 on pre-split shares to stockholders of record on July 7. The dividend on the split shares will be 23 cents per share. "One of the major goals in creating Unisys was to enhance stockholder value," said chief executive officer W. Michael Blumenthal.
BUSINESS
February 7, 1992 | By Anthony R. Wood, INQUIRER STAFF WRITER
Tyco Toys Inc., the nation's fourth-largest toy-maker, said yesterday that it would pay its first quarterly dividend, 5 cents a share, starting next month. Tyco also said it planned a 3-for-2 stock split. The decisions came after a year in which the company generated record sales, exceeding $500 million, said Harry J. Pearce, the company's executive vice president. Richard E. Grey, Tyco's president and chairman, said in a statement that the stock split "should place the stock within a range attractive to even more investors.
BUSINESS
March 26, 1987 | By Barbara Demick, Inquirer Staff Writer
Pep Boys - Manny, Moe & Jack, the auto-parts retailer, yesterday announced a 33 percent increase in earnings for the fiscal year ended Jan. 31, a gain it attributed to rapid expansion and increased efficiency. Mitchell G. Leibovitz, president of the Philadelphia-based chain, said: "We are getting economies of scale as the company grows. We are not adding overhead during our expansion. " The results mark the 11th consecutive year of record earnings and revenues, Leibovitz said.
BUSINESS
October 18, 1995 | By Susan Warner, INQUIRER STAFF WRITER
Alco Standard Corp., the Valley Forge distributor of office paper and products, yesterday raised its dividend and announced a stock split on strong earnings gains in its ongoing businesses. Higher paper prices, new acquisitions and continued restructuring contributed to the company's gains in the fourth quarter and the year. Results were, however, dampened by a previously announced onetime charge of $16.5 million to pay off environmental claims from discontinued manufacturing operations.
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BUSINESS
May 10, 2013
In the Region PUC approves Peco upgrade plan The Pennsylvania Public Utility Commission approved Peco 's long-term infrastructure-improvement plan Thursday, setting the stage for the company to accelerate a pipe-replacement program for its natural-gas utility. Under Peco's plan, the company will increase its projected annual spending to replace aging natural-gas service lines from $14 million to $34 million per year. Peco's system includes about 1,731 miles of iron mains and bare-steel mains and customer-service lines.
BUSINESS
March 7, 2013 | By Reid Kanaley
PolyMedix Inc., a struggling Radnor biotech firm that has been considering strategic alternatives that may include a sale of the company, announced a plan for a reverse stock split to increase the per-share price of its common stock. Share are currently traded over the counter, and the company said it's goal would be to list on the Nasdaq. The company called a shareholder meeting for March 15 to vote on the proposal. PolyMedix, which is developing a treatment for skin infections, in January replaced then-CEO Nicholas Landekic with CFO Edward F. Smith as interim chief executive.
NEWS
December 31, 2012
Q: If my stock splits 2-for-1, what happens to my cost basis? - R.Z., Houston A: Your basis splits 2-for-1 along with the stock. Imagine that you bought 100 shares of Meteorite Insurance (ticker: HEDSUP) for $60 each, paying a $10 commission. Your cost basis is $6,010 - or $60.10 per share. After the split, you have 200 shares and your basis is still $6,010, or $30.05 per share. Always add the purchase commission to your cost basis and subtract the sale commission from your proceeds - you'll save a few tax dollars that way. If you're paying a lot more than $10 per trade in commissions, you might want to find a less-expensive brokerage.
NEWS
August 17, 2011 | ASSOCIATED PRESS
THOMASVILLE, Ga. - Bakery company Flowers Foods Inc. said Wednesday that its fiscal second-quarter net income fell 17 percent, hurt by increased ingredient and packaging costs. The maker of brands including Nature's Own and Tastykake, the Philadelphia baker that Flowers took over earlier this year, also lowered its full-year earnings per share outlook. "A prolonged and slow economic recovery, compounded by higher costs, has continued to pressure consumer buying as well as business operations," Chairman and CEO George Deese said in a statement.
NEWS
March 15, 2011
C&D Technologies Inc., the Blue Bell maker of industrial batteries, today said its 1-for-35 reverse stock split, announced in late January, became effective, and the company has reduced the number of common shares outstanding from 600 million to 25 million. The company said its over-the-counter shares were trading today at about $10. C&D in December restructured its finances to cut its debt to $50 million from $175 million.    - Reid Kanaley
NEWS
September 14, 2010
UniTek Global Services Inc., Blue Bell, said it will sell 6.25 million shares of common stock and seek to change its listing exchange to the Nasdaq Global Market from the over-the-counter bulletin board. The engineering and construction management services company also said it would impose a 1-28 reverse stock split. UniTek shares are thinly traded, and the last trade was on Sept. 2 at $1.16. The reverse split would raise the share price by about 28 times. The company said it will price the stock sale after the split.
BUSINESS
November 16, 2005 | By Linda Loyd INQUIRER STAFF WRITER
Pharmaceutical distributor AmerisourceBergen Corp. yesterday announced a two-for-one stock split, doubled its quarterly dividend to 5 cents a share, and reaffirmed its 2006 profit outlook. The Valley Forge company also said Richard C. Gozon, 67, would become chairman of the board, succeeding James R. Mellor, 75, contingent on a shareholders' vote Feb. 9. Mellor will step down as chairman and as a director as required by the company's mandatory-retirement provisions. The company announced the stock split, in the form of a stock dividend, to be distributed Dec. 28 to shareholders of record Dec. 13. After the split, the company expects to have about 208.6 million shares outstanding.
BUSINESS
August 18, 2005 | By Wendy Tanaka INQUIRER STAFF WRITER
Urban Outfitters Inc. said yesterday that its board had approved a two-for-one stock split. The Philadelphia retailer said that for each share outstanding, one share of common stock will be distributed on or about Sept. 23 to shareholders of record on Sept. 6. After the split, Urban Outfitters will have 164.3 million shares outstanding. The stock split "affirms our belief in the company's short- and long-term growth opportunities and reflects our confidence in our ability to deliver superior results," chairman and president Richard A. Hayne said in a statement.
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