Charlotte, NC, May 25, 2006--Lowe's board of directors has announced a two- for-one split of its common shares. Shareholders will receive one additional share for each share held as of the June 16, 2006 record date.
The additional shares will be issued on June 30, 2006. This is the 12th stock split since Lowe's became a publicly traded company on October 10, 1961.
As of May 5, 2006, Lowe's had approximately 777 million common shares outstanding. Upon completion of the split, the number will increase to approximately 1.55 billion shares.
"Today's stock split allows greater opportunity for stock ownership by our employees and customers, and our dividend increase demonstrates our commitment to returning capital to shareholders," said Robert A. Niblock, Lowe's chairman, president and CEO.
