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Compaq shareholders approved an increase in its common stock, allowing the computer maker to carry out a two-for-one stock split previously approved by the company's board. Shareholders of record as of December 31 will receive one share of common stock for every share they own on that date. The shares will be distributed to stockholders on January 20, 1998. Compaq's outstanding shares will reflect the split, and will trade on a post-split basis on January 21, 1998.