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Politics : Formerly About Advanced Micro Devices
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To: Cirruslvr who wrote (99656)3/23/2000 10:36:00 PM
From: Petz  Read Replies (1) of 1571412
 
Cirruslvr, on stock splits. The articles of incorporation specify how and by whom the number of shares may be changed. Typically it requires a majority vote of the shareholders. I just checked the 10K and found this ( sec.gov ):
Stockholders' equity:
Capital stock:
Common stock, par value $0.01; 250,000,000 shares authorized; 148,656,278 shares issued and outstanding in 1999

So AMD has enough authorized shares to do a 3:2 if they wanted to, but would most likely require a special meeting to do a 2:1 split. They usually want to maintain a healthy margin in # shares authorized minus # shares issued so that acquisitions can be made and stock options granted.

High priced stocks are more in vogue now than the early 80's when I remember AMD splitting 2:1 twice. (and no, I haven't been holding AMD for 18 years)

Petz
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