Tank and bulk carrier Patriot Transportation Holding said its board has approved a 3-for-1 stock split, effective in January.
Shareholders of record as of Jan. 3 will receive two additional shares for each share held. The split will be in the form of a stock dividend to will be paid in newly issued common stock on Jan. 17.
As of Dec. 1 Patriot had 3,092,696 shares of common stock outstanding, while after the split it will have about 9,278,088 shares.
Patriot operates tank carrier Florida Rock & Tank Lines and a real estate business.
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