Ross Stores Inc. announced on Tuesday a two-for-one split of its common stock. The split will be paid in the form of a stock dividend on June 11 to shareholders of record on April 22. The discount apparel retailer's stock closed Monday at $106.38, just below its record closing high of $107.46 reached Friday. "We have delivered solid and consistent financial performance over the past few years which has contributed to significant stock price appreciation over this period," said Chief Executive Barbara Rentler. "Our decision to split the stock reflects both the Board of Directors' and management's ongoing confidence in the Company's future growth prospects and our continued commitment to enhancing stockholder value." The company had enacted a 2-for-1 stock split on Dec. 16, 2011, after the stock closed the day before at a pre-split price of $92.82.
Copyright © 2015 MarketWatch, Inc.
Continue Reading Below