Quicksilver Resources Inc. announced that its board of directors has unanimously approved a two-for-one split of the company's outstanding common stock.
The stock split is applicable to stockholders of record at the close of business on Jan. 18, 2008. The stock split will be accomplished through a stock dividend to be issued on January 31, 2008. Following the split, Quicksilver will have approximately 158 million common shares outstanding.
"We are very excited about the identified growth opportunities that we see for Quicksilver," said Glenn Darden, Quicksilver president and CEO. "Splitting the stock reflects our board of directors' confidence in the company's ability to continue to execute our strategy for organic growth and value creation. Additionally, the split is expected to enhance the liquidity of the company's shares and make them available to a larger group of potential investors."
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