Power-One Board Approves Conditional Stock Split

The board of directors for Power-One Inc. in Camarillo has approved a 2-for-1 stock split, conditioned upon the approval of its stockholders of an increase in its authorized common stock.

A special meeting of stockholders will be held Aug. 31 to vote on the proposed amendment to the company’s certificate of incorporation, increasing the total authorized common stock from 60 million to 300 million shares.

If stockholders approve the amendment, the stock split will occur Sept. 11 to stockholders of record Aug. 31.

The dividend would increase the number of outstanding shares to about 73.6 million from 36.8 million.

Power-One makes power-conversion products for the communications industry.

It has more than 5,500 employees and manufacturing operations in Irvine, Boston, Mexico, the Dominican Republic, Puerto Rico, Norway, Switzerland, Ireland, Slovakia and China.