Finning International Inc. (TSX:FTT), one of the world's largest Caterpillar equipment dealers, has recommended that shareholders approve a two-for-one share split.
"The recommendation reflects our desire to increase the liquidity of our stock and encourage wider ownership by supporting trading at a more accessible price per share," said Finning president and CEO Doug Whitehead.
If approved by shareholders, the two-for-one share split would be the fifth in the Vancouver-based company's history.
Finning had revenue of $5 billion last year and a net income of $204 million, a 25% increase over 2005's totals.
Finning share price range during the past week: between $53.26 and $53.85; 52-week high: $55.01; 52-week low: $35.76