Health and Healthcare
Myriad Did What??? A Stock Split? (MYGN)
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How long has it been since a company announced a stock split? More importantly, when was the last from a fairly large company? I can’t recall that off the top of my head either. Mryiad Genetics, Inc. (NASDAQ: MYGN) just approved a 2-for-1 stock split.
The split will paid in the form of a dividend to holders of record on March 25, 2009 and payable on March 25, 2009. Myriad says that its shares outstanding will be roughly 95 million.
Myriad Genetics said that it also still intends to spin off its R&D business in the second quarter. Each share will still result in an additional half share of the Myriad Pharmaceuticals unit in the form of a dividend. The result will be one-quarter of a share in the spin-off after the payout via a tax-free distribution to holders.
Shares of Myriad closed up almost 2% at $82.22, and its 52-week trading range is $34.35 to $88.40.
Jon C. Ogg
February 24, 2009
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