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Short Take: EchoStar sets 2-for-1 stock split

EchoStar Communications, the No. 2 direct broadcast satellite operator, said its board of directors has approved a 2-for-1 stock split. The split will become effective for shareholders of record July 1 and will double EchoStar's outstanding Class A common shares to 32 million. Class B common stock will increase from about 29.8 million shares to 59.6 million shares.

EchoStar Communications, the No. 2 direct broadcast satellite operator, said its board of directors has approved a 2-for-1 stock split. The split will become effective for shareholders of record July 1 and will double EchoStar's outstanding Class A common shares to 32 million. Class B common stock will increase from about 29.8 million shares to 59.6 million shares.