Saturday, August 05, 2017 9:21:52 AM
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)
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