SOUTH JORDAN — Merit Medical Systems Inc. said Wednesday that its board of directors has approved a five-for-four forward stock split of the company's outstanding shares of common stock.
The split will entitle each stockholder of record at the close of business on Aug. 24 to receive one additional share for every four outstanding shares of common stock held.
After the split, the company will have about 10.3 million shares of common stock outstanding.
Merit Medical develops, manufactures and distributes proprietary disposable medical products used in interventional and diagnostic procedures, particularly in cardiology and radiology. It has manufacturing facilities in South Jordan, Salt Lake City and three other locations.
The company's stock closed Wednesday at $16.99, its highest price in the past year and up $1.14 during the day. In the past year, the low point for the price has been $5.