Shares of Under Armour have climbed 65 percent in a one-year period, closing at $103.31 per share on Friday on the
"We are proud of the value we have delivered to our stockholders over the long-term, and we believe this stock split may broaden our investor base and improve the trading liquidity of our stock," said
The stock split, approved by the company's board, will take the form of a dividend of one share of Class A common stock for each share of Class A common stock outstanding and one share of Class B common stock for each share of Class B common stock outstanding. The additional shares issued through the split will be distributed on or close to July 9 to stockholders of record on June 25, the company said.
Under Armour is known for its moisture-wicking fabrics designed for athletes.