Lycos Joins Stock Split Parade
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Lycos, Inc. becomes the latest Internet company to follow the recent stock split trend as the portal provider announced plans today for a 2-for-1 stock split to shareholders payable in August.
The company's Board of Directors approved the split which will be presented as a stock dividend of one Lycos (NASDAQ:LCOS) share for each share of outstanding common stock.
Subject to shareholder approval, Lycos said the split is aimed at increasing its trading liquidity and expanding ownership in the portal. Post-split there will be 38 million common shares outstanding.
Lycos' stock was up over 10 points trading at 90 as of 11:11 EST on the news.
Industry analysts expect Yahoo! will be next portal player in line to announce a stock split--YHOO was up +11 1/16 to 183 15/16 today leading yet another Internet stock charge with Amazon, Infoseek, and Netscape all enjoying increases in mid-morning trading.