AIG Splits Common Stock 3-For-2

The board of directors of American International Group Inc. declared a three-for-two split of the company’s common stock yesterday in the form of a 50 percent common stock dividend. The dividend is payable on July 28 to shareholders of record on June 30.

The board also declared a quarterly cash dividend on the new shares of 3.7 cents per share, payable September 15 to shareholders of record on September 1. This represents an 11 percent increase in the quarterly cash dividend on AIG common stock.