Metro One stock soars, company declares first-ever stock split

Following the closing bell, Metro One Telecommunications, Inc. (Nasdaq:MTON) announced the Board of Directors' approval of a 3- for-2 stock split, payable on June 29 in the form of a 50 percent stock dividend. Fractional shares will be paid out in cash.

The Company currently has 16 million shares outstanding, 13 million in the float, and 50 million authorized shares. This is the first stock split announced by Metro One since they held their IPO in 1996.

MTON shares climbed 5.24 percent to a new 52-week high of $46.36 on Wednesday. Volume was heavy with 728 thousand shares exchanged; the 3-month average volume is 389 thousand.

About the Company

Metro One Telecommunications, Inc. is the leading developer and provider of Enhanced Directory Assistance and other enhanced telecom services. The Company operates a network of call centers located strategically throughout the U.S. Metro One handled approximately 99 million requests for information in the first quarter of 2001 and approximately 302 million requests for the entirety of 2000. (company press release)

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