America Online Inc. (NYSE: AOL) announced a 2-for-1 stock split late Thursday for all shareholders of record on Nov. 8. It's the online service provider's second 2-for-1 split this year.
AOL shares closed up 6 7/8 to 126 1/2 ahead of the announcement.
"We hope that this latest split will make it possible for even more people to share in the promising growth of our company and our industry as we enter the 21st Century," said CEO Steve Case in a prepared release.
In its first quarter, AOL topped analysts' estimates, earning $184 million, or 15 cents a share, on sales of $1.5 billion.
AOL officials were quick to point out that investors who bought 1,000 shares of AOL common stock at the company's initial public offering for $11,500 would now hold 128,000 shares valued at more than $7.8 million.
AOL shares moved up to a 52-week high of 175 ? in April after falling to a low of 29 1/8 last October.
AOL shares split 2-for-1 in February. The stock also split 2-for-1 in November 1998.