Wolverine Worldwide to Split Stock

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Shoemaker Wolverine Worldwide (NYSE: WWW  ) announced 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%.

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Rich Smith

As a defense writer for The Motley Fool, I focus on defense and aerospace stocks. My job? Every day of the week, I'm monitoring the news, figuring out the winners and losers, and tracking down the promising companies for you to invest in. Follow me on Twitter or Facebook for the most important developments in defense & aerospace, and other great stories.

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Related Tickers

10/7/2015 3:35 PM
WWW $21.67 Down -0.16 -0.73%
Wolverine World Wi… CAPS Rating: *****