SplitTrader Candidate Declares 3-for-2 Stock Split

During morning trading, Applebee's Int'l, Inc. (Nasdaq:APPB) announced a 3-for-2 stock split of the company's common shares, payable in the form of a 50 percent stock dividend. On the payable date of June 12 shareholders will receive one additional common share for every two shares held.

The last split announced by the company was also a 3-for-2, executed in 1994 when the stock was trading at about $35 per share. The current split will bring the number of outstanding shares to approximately 37 million and the float will rise to about 24 million.

On May 2, the Company reported Q1 results, beating street estimates by four cents. EPS of 0.67 also increased over the year-ago quarter by 22 percent. Additionally, sales for the Applebee's concept increased by 12 percent to a record $712.9 million for the first quarter. APPB plans to further capitalize on their position by continuing their franchise development to include at least 1,800 total restaurants in the United States in the next several years.

Applebee's shares gained +0.45 by mid-day today, pushing towards the 52-week high of $43.86; current trading is at $43.30. SplitTrader analysts will watch for favorable trading opportunities so please check the SplitTrader Current Plays section for the possible addition of APPB.

About the Company:

Applebee's International, Inc., headquartered in Overland Park, Kan., currently develops, franchises and operates restaurants under the Applebee's Neighborhood Grill and Bar brand, the largest casual dining concept in the world. There are currently 1,309 Applebee's restaurants operating system-wide in 49 states and eight international countries. (company press release)

For further details, be sure to check out the complete profile located on the site. To view a chart on the stock, click on the link provided below.

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