Apple sets stock split at two-for-one

Apple Computer Inc, whose shares have almost quadrupled in value over the last year on the success of its Ipod music player, on Friday said it has set a 2-for-1 split of its common stock. Shares of Apple, which said trading will begin on a split-adjusted basis on Feb. 28, rose 1.3 per cent.

Shareholders of record at the close of business on February 18 will receive one additional share for every outstanding share held.

Apple said there will be a proportional increase in the number of its shares authorised from 900 million to 1.8 billion. The stock rose 1.21 to 79.57, in early market trade. Apple8217;s shares over the last 52 weeks have traded in a range of from 21.88 a share to 81.99 a share.