SCHAUMBURG, Ill.-Motorola Inc.’s board of directors approved a three-for-one common stock split in the form of a stock dividend, subject to approval by stockholders of an increase in the number of the company’s authorized common shares.
Motorola said if stockholders approve the increase in the company’s authorized shares of common stock from 1.4 billion to 4.2 billion at its annual meeting in May, the stock dividend will be distributed on June 1 to holders of common stock of record on May 15.
