Krispy Kreme fuels the doughnut frenzy

Prior to the opening bell, Krispy Kreme Doughnuts Inc. (NYSE:KKD) announced that the company will split its common shares on a 2- for-1 basis. The payable date is slated for June 14.

The total number of outstanding shares will increase to approximately 58 million upon the ex- date of June 15 and the float will effectively double to 38 million. This marks the second stock split for Krispy Kreme, declared only three months after the announcing its first 2-for-1 split when the stock was trading on the Nasdaq exchange.

Just yesterday, Krispy Kreme moved its shares to the New York Stock Exchange while its stock price surged 14 percent on its last day of trading on the Nasdaq under the symbol KREM.

Based in Winston-Salem, North Carolina, Krispy Kreme produced one of the strongest IPO's on Wall Street last year. They currently operate 183 stores in 29 states with another 38 stores planned by the end of fiscal 2002.

Today, stock prices are trading at an all-time 52-week high and are currently at $62.97 by mid-day. Please check back for updates as analysts will continue to monitor this split run.

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