Apple Computer declares two-for-one stock split - update 1

02/11/05 - newratings.com

NEW YORK, February 11 (newratings.com) – Apple Computer Inc (AAPL), the maker of Macintosh PCs and iPod music players, has announced a two-for-one stock split and a proportional increase in its share count.

The US-based computer giant said in a statement on Friday that its board of directors had approved a two-for-one split of the company's common stock. The board also approved a proportional increase in the number of Apple Computer’s common stock shares authorized from 900 million to 1.8 billion. The statement added that Apple Computer's shareholders of record on February 18, 2005 would receive one additional share for each outstanding share owned. Apple Computer said that trading would begin on a split-adjusted basis on February 28 this year. The latest stock spilt is the first split in Apple Computer's stock since June 2000 and the third stock-split in the company's 25-year history of public trading. Apple Computer's share price appreciated to a one-year high of $81.99 on Wednesday this week, representing an appreciation of about 275% over the past one year.