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Short Take: Network Associates approves 3-for-2 stock split

Network Associates said its board of directors has approved a 3-for-2 stock split in the form of a 50-percent stock dividend that will become payable May 29 to stockholders of record on May 12. Separately, Network Associates--formed after the merger of McAfee Associates and Network General in October 1997--said its president, Les Denend, is retiring. Bill Larson, the company's chairman and chief executive, will assume Denend's role.
Network Associates said its board of directors has approved a 3-for-2 stock split in the form of a 50-percent stock dividend that will become payable May 29 to stockholders of record on May 12. Separately, Network Associates--formed after the merger of McAfee Associates and Network General in October 1997--said its president, Les Denend, is retiring. Bill Larson, the company's chairman and chief executive, will assume Denend's role.