E-Trade Group Inc. is the latest discount broker to announce a stock split.

The on-line broker said Friday it would split its stock 2-for-1 on May 7. E-Trade has been publicly traded since August 1996. This is the company's second stock split. The first was in January. E-Trade's stock closed up $8.0625 at $104.0625 Friday.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.