RealTime IT News

Lycos Joins Stock Split Parade

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.

Excite's (NASDAQ: XCIT) stock also soared into record territory after the search and navigation guide announced a two-for-one stock split on June 29.

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.

Last week Internet service providers Earthlink Network Inc. (NASDAQ: ELNK) and MindSpring Enterprises Inc. (NASDAQ:MSPG) also saw their respective stock surge as a result of split announcements.