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Palm announces stock split

Tue Feb 14, 2006 - 10:52 AM EST - By James Hromadka

Too bad Treos aren't 2-for-1

Palm Inc. announced yesterday that its board approved a 2-for-1 stock split that will take effect as a dividend. On March 14, shareholders will receive an additional share for each share they held on Feb. 28. The stock will begin trading at its split-adjusted price on March 15.

In a statement, Palm said it currently has about 51 million shares outstanding. The split will bring the number to more than 100 million, and according to Palm will help the company align its capital structure to companies with comparable revenue.

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