Cummins OKs two-for-one stock split, $500 mln share buyback

martedì 11 dicembre 2007 22:30

Dec 11 (Reuters) - Cummins Inc (CMI.N: Quotazione), which makes diesel engines and power generators, said its board authorized a two-for-one split of its common stock, payable Jan. 2, 2008 to shareholders of record as of Dec. 21.

The board also authorized the company to repurchase $500 million of its common shares, Cummins said in a statement. (Reporting by Sharangdhar Limaye in Bangalore; Editing by Pratish Narayanan)