by Christopher Freeburn | August 29, 2013 9:56 am
Farm equipment retailer Tractor Supply Company (TSCO) announced on Thursday that it will increase its number of shares once again.
In a release, the company said that its board has authorized a two-for-one common stock split for shareholders of record on September 18, 2013. Tractor Supply’s executive chairman attributed the stock split to the company’s “strong operating results and stock price performance.” He noted that the board remained supportive of the company’s long-term business strategy.
Tractor Supply currently has 1,223 retail outlets across 46 states. The new stock split marks its fourth split since 2002.
The company will distribute the additional shares from the split on September 26, 2013.
Shares of Tractor Supply rose more than 2% in Thursday morning trading.
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