Suncor Energy to split shares

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Suncor Energy to split shares

posted on Feb 27, 2008 09:48PM

Breaking News from The Globe and Mail

Suncor Energy to split shares

NORVAL SCOTT

Wednesday, February 27, 2008

Calgary — Suncor Energy Inc., the second largest producer in Alberta's oil sands, said Wednesday that it will implement a two-for-one split of issued and common shares, pending shareholder and regulatory approval.

The split is intended to boost the liquidity of Suncor stock, given that shares in the company have appreciated over 20 per cent in the last 12 months. Suncor stock traded at $100.65 a share Wednesday.

If the split is approved, it will be the fourth in Suncor's history. The company last implemented a share split in May 2002, when its stock was trading at $27.75.

Suncor, which has a market capitalization of $47 billion, currently has almost 463 million shares issued. A shareholder meeting has been scheduled for April 24 to approve the split.

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