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Iomega stockholders OK 1-for-5 reverse stock split

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ROY — Iomega Corp. stockholders on Friday approved a 1-for-5 reverse split of the company's 400 million shares of common stock.

The split was effective at the close of business Friday, and the new common stock will begin trading under the split adjustment Monday.

Iomega produces storage disks and drives for computers and other electronic equipment. Its stock closed at $1.22 Friday, up 2 cents during the day. In the past year, it has ranged from $1.10 to $7.