NEW YORK-Price Communications Corp.’s board of directors authorized a common stock split in the form of a 100-percent dividend payable Aug. 31 to shareholders of record Aug. 17.
“Investors have expressed difficulty in acquiring common shares in size because of large institutional and individual holding, and our board believes our current stock price does not approach our asset value,” said Robert Price, president of Price Communications in the announcement. “We are hopeful that this stock split, which will bring our outstanding shares-though still closely held-to 23 million shares, will create more liquidity.”
