Beckman Coulter OKs 2-for-1 Stock Split, Dividend Increase
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Beckman Coulter Inc., a maker of laboratory and diagnostic systems whose shares have climbed 51% this year, said Thursday its board has approved a 2-for-1 stock split.
Shareholders of record Nov. 15 will receive on additional share for each share they already own, payable Dec. 7. The company said it is splitting its stock to reduce the share price and make more shares available for trading as part of a plan to broaden its investor base, company spokeswoman Jeanie Herbert said.
The Fullerton company also said it will increase its quarterly cash dividend to 17 cents a share from 16 cents on a pre-split basis. The dividend will be payable Nov. 10 to shareholders on Oct. 20.
The stock closed Thursday at $76.63, up $1.50 a share, on the New York Stock Exchange.
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