Texas Instruments sets 2-for-1 stock split, dividend
July 15, 1999 04:14 PM
DALLAS, July 15 (Reuters) - Computer chip maker Texas Instruments Inc. TXN declared a two-for-one stock split on Thursday, in the form of a 100 percent stock dividend on its common stock, payable on August 16, 1999, to shareholders of record July 30, 1999.
For every share of Texas Instruments common stock held on the record date, stockholders will receive one additional share. The company said its board decided to split the stock to broaden the ownership base and increase the number of shares available for trading. The last Texas Instruments stock split was in November 1997.
The board also declared a quarterly cash dividend of 8.5 cents per share of common stock, payable August 16, 1999, to stockholders of record July 30, 1999. The cash dividend paid on August 16, 1999, will be paid on a pre-split basis. This dividend will be 4.25 cents per share when adjusted for the stock split.
REUTERS
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