A stockholder who bought 1,000 shares of EMC stock for $16,500 at the company`s initial public offering in April 1986 and held the stock would own 18,000 shares today valued at $1.89 million (based on the closing price of $105 on February 24, 1999).ĭuring the 1990s, EMC`s stock has been the second-highest performing among all public companies traded on U.S. EMC stock began trading publicly in 1986. EMC`s most recent stock split, a two-for-one, was in November 1997. The stock split would be EMC`s fifth since 1992. The split will decrease the price per share and make EMC stock more accessible to a broader audience of investors looking for technology companies with high growth rates and profitability, sustained market leadership and proven track records of success." Ruettgers, EMC President and CEO, said, "The recognition of EMC`s technology and market leadership in the rapidly growing market for intelligent information storage has led to a significant increase in the market price for our common stock over the past year. If this proposal is approved by the stockholders, the record date for the stock split will be May 14, 1999, and the distribution date will be May 28, 1999. Implementation of the stock split is subject to stockholder approval of an increase in the number of shares of authorized common stock at the company`s Annual Meeting of Stockholders to be held on Wednesday, May 5, 1999. EMC Corporation today announced that its Board of Directors has approved a two-for-one stock split in the form of a 100% stock dividend.
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