Triumph Group Inc. today announced a two-for-one split of its common stock. The split will be effective July 14 for shareholders as of June 22.
Shares of the Wayne manufacturer are up 48 percent in the last 12 months. The split will cut the price in half, making the stock more affordable for investors. The shares rose up $1.16 in noon trading today to $93.17.
In addition, the company said it will maintain its quarterly dividend at 4 cents per share, thereby doubling the payout. That will cost the company about $1 million more a quarter.
Triumph makes aircraft components and systems. - Paul Schweizer