Republic Services sets stock split |
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Published
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Fri, 02 Feb 2007 00:57
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FORT LAUDERDALE, Fla. (AFX) - Waste management provider Republic Services Inc. said it has approved a 3-for-2 stock split effective on March 16 to stockholders of record as of March 5.The company's stock will begin trading at the split-adjusted price on March 19.The split is Republic Services first since becoming a publicly traded company in 1998 and will increase the total number of shares outstanding from about 130 million on Dec. 31, to about 195 million.Republic Services also declared a regular cash dividend of 16 cents per share on a pre-split basis. Since the dividend will be paid on April 16 to shareholders of record on April 2, the payout will amount to 10.67 cents on a post-split basis.Shares of Republic Services closed unchanged at $43.25 on the New York Stock Exchange where they have traded between $37.51 and $44.21 in the past year.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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