The good news keeps rolling in for Oracle Corp. (Nasdaq: ORCL) shareholders. The company on Monday declared a 2-for-1 stock split for shareholders on record as of Dec. 30.
The stock split is Oracle's ninth since the company went public in March 1986. Two-for-one stock splits occurred in March 1987, December 1987, June 1989 and November 1993. Three-for-two stock splits occurred in February 1995, April 1996, August 1997 and February 1999.
The split will be distributed on Jan. 18.
Oracle's stock split comes as shares are hovering at 52-week highs.
Last week, Oracle reported second quarter earnings of $384 million, or 26 cents a share, on sales of $2.3 billion. The results easily topped First Call consensus and even beat the "whisper number."
Oracle has also been surging as it cuts costs via the Internet and sells itself as a leading Net company.
All of Oracle's divisions look strong for the third quarter, executives said. "Pipelines are up beyond what we are expecting to grow, and we think that we have plenty of coverage on our forecast and our budget," said Ray Lane, Oracle's president. "We see it internationally, which is a big difference as well. We're now seeing pipelines grow worldwide."
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