NEW YORK Jan 25 Business software provider
Salesforce.com Inc is planning a 4-for-1 stock split to
make its shares more affordable and appeal to a broader group of
investors, the company said in a filing on Friday.
The stock split was approved by the board on Dec. 13, 2012,
and will be submitted to shareholders for approval at a meeting
on March 20, the company said.
Salesforce said its stock became less affordable after
rising significantly in price for the past several years.
Its shares closed at $173.86 on the New York Stock Exchange
on Friday, up $1.57. They have risen about 46 percent over the
Salesforce has beat Wall Street expectations by expanding
its product offerings and growing its social media products
which, for example, let companies track what customers are
saying about them on Twitter and Facebook.