QUALCOMM Incorporated Declares A Four-For-One Stock Split
Special Meeting of Stockholders to Approve Stock Split, Increase Shares Authorized
SAN DIEGO, Nov. 2 /PRNewswire/ -- QUALCOMM Incorporated (Nasdaq: QCOM - news) announced today that its Board of Directors has approved, subject to stockholder approval, a four-for-one stock split of the Company's common stock and an increase in the Company's authorized common stock to 3,000,000,000 shares. The Board also authorized a special meeting of stockholders for the purposes of approving the stock split and the proposed share increase. The special stockholders meeting is expected to be held on or about December 20, 1999. If the stockholders approve the stock split and the proposed increase in the authorized number of shares, the stock split will be implemented as soon as practicable following the special meeting.
``We hope this latest stock split will make it possible for more investors to share in the promising growth of our company and our industry,' said Dr. Irwin Jacobs, chairman and CEO of QUALCOMM.
An investor in QUALCOMM stock who bought 1,000 shares for $16,000 in 1991 would, after the latest 4-for-1 split, own 16,000 shares worth about $880,000 based on current prices.
QUALCOMM Incorporated (www.qualcomm.com) is a leader in developing and delivering innovative digital wireless communications products and services based on the Company's CDMA digital technology. The Company's major business areas include CDMA phones; integrated CDMA chipsets and system software; technology licensing; and satellite-based systems including OmniTRACS© and portions of the Globalstar(TM) system. Headquartered in San Diego, Calif., QUALCOMM is included in the S&P 500 Index and is a 1999 FORTUNE 500© company traded on the NASDAQ under the ticker symbol QCOM. |
