Neogen's Board Approves 3-for-2 Stock Split

LANSING, Mich. (AP) — Neogen Corp., which makes test kits for food and animal safety, said Monday its board approved a 3-for-2 stock split.

Shareholders of record on Nov. 30 will receive one additional share of stock for each two shares held.

The stock split will be paid as a stock dividend on Dec. 15. As of Monday, Neogen has 15 million shares outstanding. After the stock split, the company will have 22.5 million shares outstanding.

Shares of the company rose $1.29, or 4.2 percent, to $32.35 in morning trading. The stock has ranged from $16.50 to $33.80 over the past year.