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Short Take: Iomega announces two-for-one stock split

Iomega's board of directors approved a two-for-one stock split, to be effected as a 100 percent stock dividend. The dividend will be distributed on or about December 22 to stockholders as of December 1. The principal reason for the stock split is to increase the number of option shares available for recruiting and retaining the company's growing employees, said David J. Dunn, chairman of Iomega's board. Iomega's workforce has grown from approximately 1,700 to approximately 3,700 since January 1996.

Iomega's board of directors approved a two-for-one stock split, to be effected as a 100 percent stock dividend. The dividend will be distributed on or about December 22 to stockholders as of December 1. The principal reason for the stock split is to increase the number of option shares available for recruiting and retaining the company's growing employees, said David J. Dunn, chairman of Iomega's board. Iomega's workforce has grown from approximately 1,700 to approximately 3,700 since January 1996.