Household International said its board has approved a 3-for-1 stock split.
The split, which is contingent on shareholders' approval, will increase the company's outstanding shares to $750 million. Shareholders of record as of May 14, 1988, will be issued new shares on or near June 1.
The board also increased the quarterly dividend on Household's common stock by 3 cents, to 45 cents per share, on a pre-split basis.
The stock split will have no material impact on Household's ability to make acquisitions, said Piper Jaffray analyst Jeffrey Evanson. The consumer finance company has been rumored to be bidding on Beneficial Corp., a Delaware-based company that put itself on the block this year.