Salesforce.com Approves Stock Split

The board of directors of Salesforce.com has approved a four-for-one (4:1) split of the company's common stock, and shareholders approved an increase in the number of authorized shares of common stock from 400 million, to 1.6. billion, the company announced today.

An additional three shares of Salesforce.com stock will be given to each stockholder of record as of April 3, 2013, with those shares distributed on April 17. Trading for those shares on a split-adjusted basis will begin on April 18.

Salesforce.com shares traded at $172. 23 a share at the end of Thursday's trading session, with 146.45 million shares outstanding.

The article Salesforce.com Approves Stock Split originally appeared on Fool.com.

Fool contributor Dan Radovsky has no position in any stocks mentioned. The Motley Fool recommends Salesforce.com. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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