DALLAS -- First USA Inc. said its board approved a 2-for-1 stock split payable Nov. 11 to shareholders of record Nov. 1.

The split is subject to approval of a charter amendment to increase the number of authorized common shares outstanding to about 55,260,000, from 27,630,000.

The company also declared a dividend of 4 cents per pre-split share payable Nov. 10 to shareholders of record Nov. 1.

A company spokesman said if the split is approved, the new dividend rate will be 2 cents a post-split share, the equivalent of 4 cents on a pre-split basis.

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