Tekelec Announces 2-for-1 Stock Split

Tekelec, a Calabasas-based company that makes switches and testing devices for the telecommunications industry, said its board of directors has approved a stock split scheduled for March 29.

Following the split, shareholders of record on March 17 will own two shares of the company’s common stock for every one share held before the split. Stock splits generally do not affect the value of a shareholder’s total holdings, merely the number of shares held.

Tekelec said the company had 4.6 million shares of common stock outstanding on March 2, and will have about 9.2 million shares outstanding after the split.