NEW YORK (GenomeWeb News) – Invitrogen announced yesterday that its board of directors has approved a two-for-one stock split.
The Carlsbad, Calif.-based firm said that shareholders of record on May 16 will receive on May 27 one additional share for each share held. The company had approximately 48.9 million shares of common stock outstanding as of the end of the first quarter on March 31.
Invitrogen’s shares closed at $93.57 in Wednesday trade on the Nasdaq.
Its stock has traded between $67.47 and $99.15 over the past 52 weeks, with a high of $99.15 reached on Dec. 10.
Last week, the firm reported that its first-quarter revenues rose 13.5 percent and its profit nearly doubled.