TriQuint's Board of Directors Approves Stock Split

January 04, 2000 by Jeff Shepard

TriQuint Semiconductor Inc. (Hillsboro, OR) recently announced that its board of directors has approved a two-for-one stock split to be effected in the form of a stock dividend. The stock split is subject to approval of an increase in the company's authorized shares of common stock to 200 million shares.A special meeting of the stockholders will be held on January 31, 2000. Subject to receiving stockholder approval, the record date for the stock split will be February 1, 2000 and thereafter, on February 22, 2000, the transfer agent will mail certificates representing an additional share for each share held on the record date. The stock split will increase the number of shares outstanding from approximately 19 million to approximately 38 million shares."We are offering this stock dividend because of the increase in the value of the company over the last year," said Steven J. Sharp, TriQuint's president and CEO. "In addition, the dividend will decrease the price per share, consequently broadening the distribution and improving the marketability of TriQuint's common stock."