SAN FRANCISCO (AP) — Salesforce.com said Thursday that its board approved a four-for-one stock split that will take effect in April.
The company provides software for sales staff over the Internet. Salesforce.com said that each shareholder of record on April 3 will receive three shares for every one share they own. The new shares will be distributed April 17 and the company's stock will begin trading on a split-adjusted basis April 18.
Salesforce.com shares rose 22 cents to close at $172.73. The stock has traded between $120.18 and $187.94 in the last 52 weeks.