TULSA, Okla. (AP) -- Aaon Inc. declared a three-for-two stock split Wednesday, which will be paid out by the air conditioning and heating equipment company in July as a dividend.
The number of outstanding shares will climb to about 36.7 million from approximately 24.5 million, based on the amount of shares outstanding as of April 25.
Shareholders of record on June 14 will receive their dividend on July 2. They will receive one additional share for every two shares they hold as of that date.
Aaon, based in Tulsa, Okla., also said that its semi-annual dividend will climb 25 percent to 10 cents per share after the stock split. The next semi-annual dividend will also be paid on July 2 to shareholders of record on June 13.