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Technology Stocks : Altera -- Ignore unavailable to you. Want to Upgrade?

To: Joe Pirate who wrote (2018)	4/21/1999 5:17:00 PM
From: A. Edwards	Respond to of 2389

AFTER THE CLOSE: Altera declares 2-for-1 Stock Split.... Business Wire - April 21, 1999 17:02 SAN JOSE, Calif.--(BUSINESS WIRE)--April 21, 1999--Altera Corporation (Nasdaq: ALTR) today announced that it will carry out a 2-for-1 stock split effected in the form of a stock dividend. The record date for the stock split will be Tuesday, May 4, 1999, and shareholders of record on that date will receive one additional share of Altera common stock for every share held. Altera's transfer agent will mail the new stock certificates representing the additional shares on or about Wednesday, May 19, 1999. The market price for Altera common stock as reported by Nasdaq will reflect the stock split beginning Thursday, May 20, 1999. Rodney Smith, President and CEO stated, "The stock split is in response to the increase in the market price for the Company's stock throughout this quarter. We feel this is another good opportunity to increase the availability of shares for trading, and possibly to broaden our stockholder base. Our last stock split was completed on January 6, 1997." In connection with the stock split, the Board of Directors has authorized doubling from 6,000,000 to 12,000,000 the number of shares authorized for repurchase under the Company's share repurchase program. Under the program, which was previously authorized by the Board of Directors, the shares may be purchased in the open market from time to time at the discretion of the Company's management. Additionally, the stock split will have the effect of doubling the existing reserves and the proposed increase to those reserves under the Company's 1996 Stock Option Plan (6,500,000 and 9,000,000, respectively) and 1987 Employee Stock Purchase Plan (3,100,000 and 3,300,000, respectively). The increase in reserves was previously approved by the Board of Directors and will be voted on by the shareholders at the Company's Annual Meeting, scheduled to be held on Wednesday, May 26, 1999.