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Tractor Supply plans two-for-one stock split

BRENTWOOD, Tenn. (AP) -- Tractor Supply, a retailer for farmers and ranchers, said Thursday it will conduct a two-for-one stock split in September.

Stockholders of record as of Sept. 18 will receive one additional share for every share they own on Sept. 26. Tractor Supply had 69.8 million shares on the market as of July 27.

Executive Chairman Jim Wright said the split "will make our stock more affordable."

The company said it has conducted four two-for-one stock splits since 2002. Its shares reached an all-time high of $124.45 on July 15 and rose $3.51, or 2.9 percent, to $123.31 in morning trading Thursday.

Tractor Supply Co. runs 1,223 stores in 46 states.