Comcast approves 3-for-2 stock split |
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Published
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Thu, 01 Feb 2007 13:50
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PHILADELPHIA (AFX) - Comcast Corp., the nation's largest cable television operator, on Thursday said its board voted to increase the number of shares outstanding by 50 percent through a three-for-two stock split.The split will occur in the form of a dividend and give shareholders an additional half-share for each share owned. Stock splits do not reduce the value of any shareholder's stake.Comcast plans to pay the dividend Feb. 21 to shareholders of record on Feb. 14. In the case where fractions of shares result from the split, Comcast will pay the cash equivalent.Holders of Comcast's common stock, which trades under 'CMCSA,' will receive the dividend in common stock; holders of the company's Class B shares and its special common stock, which trades under 'CMCSK,' will receive the dividend in special common stock.Comcast had about 1.374 billion shares of common stock and 697 million shares of special common stock outstanding at the end of December.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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