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Microsoft sets 2-for-1 split
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January 25, 1999: 8:49 a.m. ET
Software titan's board OK's move, to be effective March 12
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NEW YORK (CNNfn) - Microsoft Corp. got the green light Monday from its board of directors for a two-for-one stock split, its eighth since going public in 1986.
The Redmond, Wash.-based software titan's stock split, designed to make Microsoft shares more affordable to the average investor, is subject to shareholder approval.
If approved, shareholders will receive one additional common share for every share held on the record date of March 12, 1999.
"Microsoft works to make our technologies broadly accessible to customers. Similarly, we aim to make our stock broadly accessible to individuals and this stock split should help achieve that objective," said Gregory B. Maffei, chief financial officer. "We're gratified that customers find our products compelling and innovative, and have rewarded the company and our shareholders with a strong stock price."
As of Dec. 31, 1998, Microsoft had approximately 2.5 billion common shares outstanding. Once the split is complete, the number will increase to approximately 5 billion.
Shares of Microsoft (MSFT) finished down 2-1/16 Friday at 156-1/4 on the Nasdaq. 
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