Oxygen provider declares 2-for-1 stock split

The Board of Directors of Lincare Holdings Inc. (Nasdaq:LNCR) announced before the opening bell that the company will split its common shares on a 2-for-1 basis for qualifying shareholders. The payable date is June 22 and the stock is expected to trade split-adjusted on June 25.

Since trading publicly in 1992, this marks the third stock split for Lincare. The total number of outstanding shares will effectively increase to 107 million and the float will double to roughly 82 million. There are ample shares available to accommodate the split, with 200 million currently authorized.

LNCR is trading down fractionally by mid-day on Wednesday to $53.70. The 52-week range for the stock is $23.13 - $63.13 with an average 3-month volume of 585 thousand.

Lincare, headquartered in Clearwater, Florida, is one of the nation's largest providers of oxygen and other respiratory therapy services to patients in the home. The Company provides services and equipment to over 285,000 customers in 44 states. (company press release)

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