Marvell Technology (MRVL) - Get Report shareholders backed the 2-for-1 stock split the company announced in February.

The chip company said it will pay a 100% stock dividend July 24 to holders of record July 10.

On Monday, shareholders approved an increase in share capital underlying the split, which was authorized by the board back on Feb. 21.

Marvell rose 2 cents Monday to $47.52.