quod erat demonstrandum.
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Biogen Announces 2-for-1 Stock Split
June 11, 1999 01:40 PM
CAMBRIDGE, Mass., June 11 /PRNewswire/ -- Biogen, Inc. (BGEN) today announced that its shareholders have approved an increase in the number of authorized shares of its Common Stock, which will enable the Company to complete a two-for-one stock split of the Common Stock. The stock split will be effected through a stock dividend of one share for each share of Common Stock outstanding. The stock dividend is payable on June 25, 1999, to stockholders of record at the close of business on June 11, 1999. As a result of the stock split, the number of outstanding shares of the Company's Common Stock will increase to approximately 149,789,754.
The vote was taken at the Company's annual meeting, which was held today in Cambridge, MA.
Jim Vincent, Biogen's Chairman and Chief Executive Officer, said, "We are pleased that our shareholders recognized the value of broadening Biogen's shareholder base and increasing the liquidity of the Company's shares. This action reflects our commitment to our stockholders and expresses our enthusiasm for the Company's opportunities for continued growth." |
