Interventional device developer Boston Scientific of Natick, MA, has approved a two-for-one stock split, to be effected in the form of a 100% stock dividend. The split is contingent on stockholder approval of a charter amendment that would increase the firm’s total number of authorized shares.
The action would increase Boston Scientific’s total shares outstanding to approximately 823 million. Approval of an amendment to increase the total authorized shares from 650 million to 1.25 billion will be sought by the firm at a stockholder meeting to be held on October 6.
Subject to stockholder approval of the charter amendment, the developer expects the record date for the stock split to be October 15 with a payment date in early November.
By AuntMinnie.com staff writersJuly 30, 2003
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