KapStone Paper And Packaging Announces 2-For-1 Stock Split

(RTTNews) - KapStone Paper and Packaging Corp. (KS) said Wednesday that its Board of Directors has approved a two-for-one split of the company's common stock to be effected in the form of a stock dividend.

The record date for the stock split is December 23, 2013. Shareholders of record as of such date will receive one additional share of common stock for each share that they own. The distribution of the new shares will be made on January 7, 2014, and trading on a split-adjusted basis is expected to begin on or about January 8, 2014.

KapStone had about 47.8 million shares of common stock outstanding as of December 11, 2013. The stock split will increase the common shares outstanding to about 95.6 million.