Old Dominion (ODFL) Approves Three-for-Two Split
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Old Dominion Freight Line, Inc. (Nasdaq: ODFL) has approved a three-for-two stock split, which will be effected September 7, 2012, for shareholders of record as of the close of business on the record date of August 24, 2012. Shareholders will be issued a certificate representing one additional share of common stock for each two shares of common stock held on the record date by the Company’s transfer agent, American Stock Transfer and Trust Company. In lieu of fractional shares, shareholders will receive a cash payment based on the average of the high and low sales prices of the common stock on the record date. Upon completion of the split, the Company will have approximately 86,165,000 shares outstanding.
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