Walt Disney Productions declared a 4-for-1 split.

The Burbank-based company set a date of Feb. 10 for the stock split, with distribution of the new shares scheduled for March 5. The action will increase the number of shares outstanding to about 129.5 million. Disney Chairman Michael D. Eisner said the split is designed “to make Disney shares accessible to a broader segment of the investing public.” The Disney board also declared a quarterly cash dividend of 8 cents a share payable on the adjusted shares April 7. The new dividend rate represents an increase to 32 cents from 30 cents on a yearly basis.