Unisys (UIS) Approves 1-for-10 Reverse Stock Split
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Unisys Corporation (NYSE: UIS) said its Board of Directors has approved a one-for-ten reverse stock split of Unisys common stock. The company anticipates the stock split will be effective on or about October 26, 2009. Unisys stockholders had authorized the Board of Directors to approve a reverse stock split at a ratio of between one-for-five and one-for-twenty at the company’s 2009 Annual Meeting in May.
As a results of the reverse split, the number of authorized shares of the company's common stock will also be proportionately reduced from 720 million to 72 million.
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