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Winnebago Industries Inc.’s stock has been trading anywhere from around $69 to $71 a share in recent days, so the motorhome manufacturer announced today (Jan. 14) that it plans a 2-for-1 stock split in early March, which will cut the market price for the company’s shares basically in half.
Winnebago shares closed at $69.65 a share today in New York Stock Exchange (NYSE) trading.
Winnebago’s stock split will occur on March 5 and it will be for shareholders of record as of Feb. 20. The 2-for-1 split will double the number of outstanding Winnebago shares to 33.8 million.
Companies often engage in stock splits when they feel their stock price has risen to the point where it is too expensive for many investors. For example, more investors can buy 100 shares of a stock priced at $35 a share than if it priced at $70. Also, a company’s stock price often will creep higher after a stock split.
In planning a stock split, Winnebago joins Thor Industries Inc., which has a 2-for-1 split planned for later this month. The split is scheduled for Jan. 26, for shareholders of record as of Jan. 5, and will increase the number of outstanding Thor shares to 57.6 million.
Thor stock closed at $58.57 a share today in NYSE trading.
Thor also did a 2-for-1 split in July 2002.