Open Text Corp. (NASDAQ: OTEX) said its board of directors has approved a two-for-one stock split of its outstanding common shares.
The two-for-one stock split will be implemented by way of a stock dividend whereby shareholders will receive one common share for each common share held. There were 60,473,680 OpenText common shares outstanding as of January 22, 2014 . Adjusting for the stock split, there will be 120,947,360 OpenText common shares outstanding.
The record date for the stock dividend will be February 7, 2014 and the payment date will be February 18, 2014.
OpenText said it is undertaking the stock split to make the common shares more readily accessible to individual shareholders, increase and broaden OpenText´s shareholder base, and improve the liquidity of the market for OpenText´s common shares.
OpenText is an independent software provider of enterprise information management (EIM). For more information visit www.opentext.com.