Under Armour,Inc.announced that its board of directors has approved a two-for-one stock split of its outstanding common stock.The stock split will be effected in the form of a stock dividend of one share of class A common stock for each share of class A common stock outstanding and one share of class B common stock for each share of Class B common stock outstanding.The additional shares issued as a result of the stock split will be distributed on or about Apr.14,2014 to stockholders of record on Mar.28,2014.
Kevin Plank,chairman and CEO of Under Armour,Inc.,stated,"Our team is proud of the value we have delivered to our stockholders over the long-term,and we believe this stock split may broaden our investor base and improve the trading liquidity of our stock."
The company's last stock split occurred in July 2012 and this will be the company's second stock split since it went public in November 2005.