Sunwear Shares Split
- Share via
ANAHEIM — Directors of Pacific Sunwear of California Inc. declared a 3-for-2 stock split, effective Oct. 18 for shareholders of record Oct. 9. The stock, which has more than tripled in price this year, closed Friday at $31.125, up 62.5 cents on the Nasdaq market.
The split, which provides one additional share of the company’s common stock for every two shares currently outstanding, is aimed at increasing the number of shares available for trading and to attract a broader stockholder base, said Greg H. Weaver, president and chief operating officer.
The retailer of casual teen apparel said it will have more than 8 million shares outstanding after the split, up from nearly 5.4 million shares.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
