Marten Transport Ltd. has announced a three-for-two stock split.
The split will take the form of a stock dividend on Dec. 5th to shareholders of record as of Nov. 21st. Marten shareholders will receive an additional one-half share for each share of common stock they hold. This will increase the number of outstanding shares from 9.1 million to about 13.7 million.
Marten previously initiated a three-for-two stock split on July 24th. The company underwent an initial public stock offering in its third quarter, issuing 2.7 million shares at $20.50 per share.