Huntington Beach-based surfwear maker Quiksilver Inc. said Thursday its board approved a two-for-one stock split.
The move is aimed at getting the stock’s “market price in a more attractive range for investors,” Chief Executive Bob McKnight said.
Quiksilver’s shares closed at $29 on Thursday, a much lower point than for other companies that have undertaken splits.
The move comes days after Quiksilver said it plans to buy France’s Skis Rossignol SA for $312 million. News of the deal sent Quiksilver’s shares down 10% on Tuesday.
Quiksilver plans to distribute shares in the split on May 11 to shareholders who bought the stock on April 27 or earlier.
