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CHICAGO-Ameritech Corp. said it authorized a stock repurchase plan-valued at $2 billion, or 4.7 percent of its outstanding shares at the current value-which it said is the largest stock repurchase ever launched by a telecommunications company in the United States. The board of directors also approved a two-for-one stock split and a 6.2 percent increase in Ameritech’s dividend.
Ameritech said it can begin repurchasing its shares on the open market next month. The stock split will be the company’s fourth split in 11 years, and will be effected as a one-time stock dividend to share owners of record Dec. 31. New shares will be distributed on Jan. 26, 1998.
