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Peabody Splits Stock, Ups Dividend

The 2-for-1 stock split is effective Feb. 7.

Peabody Energy

(BTU) - Get Peabody Energy Corporation Report

, the Missouri-based coal company, announced Monday evening a 2-for-1 stock split on common shares.

All shareholders as on Feb. 7 will receive one additional share of Peabody Energy common stock for every share held on that date. The additional shares will be distributed to shareholders in the form of a stock dividend on Feb. 22. Upon completion of the 2-for-1 split, Peabody Energy will have approximately 264 million shares of common stock outstanding from its existing 132 million shares.

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Peabody also announced a 26% increase in its quarterly dividend to 12 cents a share (on a pre-split basis). This is payable prior to the stock split on Feb. 22, 2006, to shareholders of record on Feb. 7, 2006.

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