FileNet Will Split Its Stock

Directors of business software developer FileNet Corp. declared a 2-for-1 stock split, payable June 12 to shareholders of record on May 29, the company said Monday.

The Costa Mesa-based maker of document-management software will have 31 million shares outstanding after the split. Officials said the decision to split the stock comes as a result of FileNet’s financial performance, which has been going strong throughout the past year.

The company’s stock dropped $1.13 a share Monday, closing at $55 on light Nasdaq trading.