Steve Madden Declares 3-for-2 Stock Split

(RTTNews) - Steve Madden Ltd. (SHOO) said Tuesday that its Board of Directors has declared a three-for-two stock split, in the form of a stock dividend, of the company's outstanding shares of common stock.

The stock split will entitle all stockholders of record at the close of business on September 20 to receive one additional share of Steve Madden common stock for every two shares of common stock held on that date.

The additional shares are expected to be distributed to stockholders on or about September 30 by the company's transfer agent.

As a result of the stock split, the number of outstanding shares of the company's common stock will increase to about 68.8 million shares from about 45.9 million shares outstanding prior to the split.