An issue of new shares in a company to existing shareholders in proportion to their current holdings.
- Adjusted for stock splits, shares have more than tripled, to about $28 a share, since the company first went public in 1996.
- Its stock leaped to a peak of about $60 a share, before a stock split in mid-2001, powered by a tide of plugs on business-TV programs.
- More often than not, the board of directors will approve (and the shareholders will authorize) a stock split in order to increase the liquidity of the share on the market.
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