News June 2, 08:18 Eastern Time
AMERITRADE ANNOUNCES THREE-FOR-ONE STOCK SPLIT
OMAHA, Neb., June 2 /PRNewswire/ -- The Board of Directors of Ameritrade Holding Corporation (Nasdaq: AMTD), a pioneer in discount and online brokerage, has declared a three-for-one stock split of its Class A and Class B Common Stock, contingent upon stockholder approval of an amendment to the Company's Certificate of Incorporation. A special meeting of stockholders will be held in Omaha, Neb., on July 1, 1999 at which time stockholders will vote on the proposed amendment, which will increase the number of authorized shares of Class A Common Stock to 270 million from 60 million.
Stockholders of record as of the close of business on June 11, 1999 will receive, in the form of a stock dividend, two additional shares for each share held by them. On or about July 2, 1999, the transfer agent will distribute the additional shares and the stock will begin trading at the post-split value on July 6, 1999. Upon completion of the split, the Company will have approximately 174,436,440 shares of Common Stock outstanding, consisting of Class A and Class B.
"The Board has determined that the stock split would be appropriate in light of the significant increase in the Company's share price in the last few months since the split on February 22," said J. Joe Ricketts, Chairman and Co-Chief Executive Officer, Ameritrade Holding Corporation. "It's the Board's view that the stock split will enable additional individual investors to more easily purchase Ameritrade stock and will provide additional trading liquidity for our large institutional shareholders," he added. |
