Vitesse Semiconductor Declares Stock Split

The board of directors of Vitesse Semiconductor in Camarillo has approved a 3-for-2 split of its common stock.

Shareholders will receive a stock dividend of one share for each two shares outstanding on Wednesday, the date of record for the split, and the company’s stock price will be adjusted the following trading day.

Company officials said Vitesse will pay fair market value in cash for fractional shares resulting from the stock split, based on the closing price of the company’s common stock as quoted on the Nasdaq exchange on Thursday.

Distribution of shares relating to the stock split and payment for fractional shares will occur three to four weeks after the record date.

Vitesse designs and manufactures integrated circuits for providers of telecommunications, data communications and automated test equipment systems.