NEW YORK Omnicom Group today said its board of directors authorized a two-for-one stock split in the form of a 100 percent stock dividend.
All shareholders at the close of business on June 6 will receive one additional share for each share held on that date. The split will be distributed on June 25.
Omnicom's board also declared a quarterly dividend of 15 cents per outstanding share of its common stock following the completion of the stock split, an increase of 20 percent from the previous split-adjusted quarterly cash dividend of 12.5 cents per share.
The cash dividend is payable on July 5 to Omnicom Group common shareholders of record at the close of business on June 6.
Omnicom currently has approximately 163.1 million shares outstanding, excluding treasury shares. Upon completion of the two-for-one split, it will have about 326.2 million shares of common stock outstanding, excluding treasury shares.
The company's shares closed today at $103.69, up 14 cents from yesterday's close. The 52-week high was $109.35.
Omnicom posted an 11 percent global revenue rise to almost $2.85 billion and a 10 percent gain in earnings to $183 million (or $1.09 a share) in the first quarter, compared to the same period a year ago.
Organic revenue, excluding the impact of currency fluctuations and acquisitions, rose nearly 7.5 percent.