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Travelers Stock Split
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Business New Haven
11/3/1997
By: Russell Stone
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NEW YORK - Travelers (NYSE: TRV) announced that it will split 3-for-2 to holders of record as of November 3. The stock is currently trading around $75 for a presumed value of approximately $50 after the split. In addition, its board of directors has declared intent to raise the 1998 quarterly dividend from a split-adjusted 10 cents to 12.5 cents per share, payable to holders of record as of February 9, 1998. The company will expand its buy-back program to repurchase $1 billion of stock to fund employee benefit plans.
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