Microsoft Corp (MSFT)

[PMS Witch]

When looking at Microsoft stock splits during the time I've owned the stock, it seems they like to split when the price rises above $100.

But the last split took place when the stock was under $50, breaking the pattern. Maybe after seeing the stock price in the doldrums for a few years, management thought a split would bring some investor interest to their shares -- I don't know.

Of course, after many splits, the commissions to sell will be many fold greater. Splits seem to be a windfall for investment dealers.

The theory is that lower share prices will attract investors of modest resources. I question why two $50 shares are more attractive than one at $100, since earnings per share and dividends are halved by the split.

Cheers, PW.

From my records (No guarantee of accuracy). . .

Payable Date          Type of Split  Closing Price Before  Closing Price After 
  
 September 18, 1987    2 for 1        $114.50 (Sep 18)      $53.50 (Sep 21) 
  
 April 12, 1990        2 for 1        $120.75 (Apr 12)      $60.75 (Apr 16) 
  
 June 26, 1991         3 for 2        $100.75 (Jun 26)      $68.00 (Jun 27) 
  
 June 12, 1992         3 for 2        $112.50 (Jun 12)      $75.75 (Jun 15) 
  
 May 20, 1994          2 for 1        $97.75 (May 20)       $50.63 (May 23) 
  
 December 6, 1996      2 for 1        $152.875 (Dec 6)      $81.75 (Dec 9) 
  
 February 20, 1998     2 for 1        $155.13 (Feb 20)      $81.63 (Feb 23) 
  
 March 26, 1999        2 for 1        $178.13 (Mar 26)      $92.38 (Mar 29) 
  
 February 14, 2003     2 for 1        $48.30 (Feb 14)       $24.96 (Feb 18)