Crane Co said shareholders at its annual meeting approved a three-for-two stock split of its common to shareholders of record May seven. Crane said the additional shares will be issued on or about May 21. It said the number of common shares outstanding will increase to 23.7 mln from 15.8 mln. Crane also said shareholders approved an increase in the companys common to 80 mln from 40 mln and authorized five mln shares of preferred stock with a par value of one ct.
CRANE <CR> SHAREHOLDERS APPROVE 3-FOR-2 SPLIT