Jim Walter Corp said its board approved a 5-for-4 stock split in the form of a 25 pct stock dividend to be distributed July 12 to stockholders of record June 15. It also said its board approved a regular quarterly cash dividend of 35 cts a share on its pre-split common payable July one to holders of record June 15. The current dividend is equal to 28 cts on the common outstanding after the split. The company said it plans to increase the quarterly cash dividend on the post-split shares by seven pct to 30 cts beginning with the October one payment.
JIM WALTER <JWC> APROVES STOCK SPLIT