Wolverine Worldwide to Split Stock

Before you go, we thought you'd like these...
Before you go close icon

Shoemaker Wolverine Worldwideannounced a 2-for-1 stock split Thursday.

Anyone who owns a share of Wolverine Worldwide stock on October 1 will own two shares of stock when the split takes effect on November 1. In practice, however, anyone who owns a share of the stock even after the October 1 record date will, on November 1, find that they own two shares.

Commenting on the move, company CEO Blake W. Krueger explained that, "Declaring a stock split underscores the confidence our Board of Directors has in our Company strategy, our team's ability to execute, and the very significant growth opportunities that lie ahead."

In such situations, a company splitting stock will not ordinarily see a significant change in market capitalization after the split. However, each new "split" share will sell for a share price close to half of what a share cost pre-split.

Wolverine also announced Thursday that its new per-share, quarterly dividend payment will $0.06 after the split. Thus, pre-split, the dividend would have been $0.12. The dividend yield will remain approximately 0.8%.

The article Wolverine Worldwide to Split Stock originally appeared on Fool.com.

Fool contributor Rich Smith has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. 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.

Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.

Read Full Story

Want more news like this?

Sign up for Finance Report by AOL and get everything from business news to personal finance tips delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.

From Our Partners