CMG Information Services Inc. (Nasdaq: CMGI), Andover, MA, announced last week that the company's board of directors has declared a two-for-one common stock split. The split will be effected in the form of a 100-percent stock dividend.
According to CMG, stockholders will receive one share of common stock for each share held on record date April 27. Shares will be distributed on May 11. Total outstanding shares after the split will be approximately 22.7 million.
CMG is a direct-marketing oriented Internet investment and incubator company with majority stakes in 20 Web firms including Lycos, Geocities and Accipiter. Microsoft, Intel and Sumitomo hold minority stakes in CMG.