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Short Take: Globalstar stock split approved

The board of directors of Globalstar Telecommunications (GTL) has approved a 2-for-1 stock split of its common shares, the company's second since its IPO in February 1995. As of April 24, GTL, which is deploying a worldwide, wireless digital telecommunication service, had approximately 43 million common shares outstanding on a fully diluted basis. Pending shareholder approval, the stock split will take the form of a dividend.

The board of directors of Globalstar Telecommunications (GTL) has approved a 2-for-1 stock split of its common shares, the company's second since its IPO in February 1995. As of April 24, GTL, which is deploying a worldwide, wireless digital telecommunication service, had approximately 43 million common shares outstanding on a fully diluted basis. Pending shareholder approval, the stock split will take the form of a dividend.