Apple Announces Stock Split
Apple announced today that their Board of Directors has approved a 2 for 1 stock split, increasing the number of common shares from 900 million to 1.8 billion.
Each shareholder of record at the close of business on February 18, 2005 will receive one additional share for every outstanding share held on the record date, and trading will begin on a split-adjusted basis on February 28, 2005.
A stock split simply decreases the cost of purchase of each share while proportionally increasing the number of shares available. This does not change the value of the stock owned by current shareholders.