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Southwestern Energy splits stock two-for-one Friday, Feb 29, 2008 Arkansas News Bureau LITTLE ROCK - Southwestern Energy Co. announced Thursday that its board of directors has declared a two-for-one stock split behind a positive outlook in the Fayetteville Shale play. "In light of the significant opportunity set in front of us in the Fayetteville Shale, and our continuing strong operational and financial performance, our board of directors has determined that a split of the company's stock is appropriate at this time," company president Harold Korell said in a prepared statement. The board of directors established March 14 as the record date and March 25 as the date when the additional shares will be distributed to shareholders. Southwestern had about 171 million shares of common stock outstanding as of Feb. 22. Southwestern's transfer agent, Computershare Trust Co., will distribute the new shares. Shares of Southwestern Energy (NYSE: SWN) closed Thursday at $67.65, up $2.04. The stock was trading near its 52-week high of $68.85. The stock's lowest point in the past year was $35.55. |
