United Online stock split will be sent as dividend

Westlake Village-based United Online, Inc. (NASDAQ: UNTD), a provider of value-priced Internet services, announced recently that its board of directors has declared a 3-for-2 split of the company’s common stock, which will be in the form of a stock dividend.

Shareholders on the record date of Oct. 14 will be entitled to one additional share for every two shares they own on that date. The company expects that new shares will be issued on Oct. 31 and that its shares will begin to trade on NASDAQ on a post-split basis on Nov. 3. As of Sept. 22, the company had about 43.4 million shares outstanding.

"Our decision to declare this stock split reflects our confidence in the company’s continued success and makes United Online’s stock more attractive to a larger pool of investors by offering increased liquidity," said Mark Goldston, chairman, CEO and president of the company.