Haemonetics (NYSE:HAE) put a 2-for-1 stock split into effect Friday, issuing a single share for each share already owned in time for today’s trading.
The Braintree, Mass.-based blood management company said the split, in the form of a 100% stock dividend for shareholders of record as of Nov. 9, is aimed at boosting its market capitalization.
That’s the number of shares multiplied by their price. Before the split, Haemonetics’ market cap was about $1.05 billion; post-split, that number jumped to $2.11 billion.
"The company expects that this split will make its shares more accessible and increase its shareholder base, thereby improving its market liquidity. Additionally this stock split reflects the company’s confidence in its strength and ability to continue to generate long term growth and financial performance," according to a press release.
HAE shares were trading at $40.92 as of about 12:30 p.m. today, up 1.0%.