Immucor announces 3-for-2 stock split

By Elaine Rigoli

Tampa, Fla., April 11 - Immucor, Inc. announced Tuesday that its board of directors has approved a 3-for-2 stock split in the form of a 50% stock dividend to shareholders as of the close of business on April 24.

As of March 31, the company had 45,212,607 shares outstanding. The stock split will increase the number of shares of common stock outstanding to 67,818,911 shares.

The expected date of distribution is May 15.

"We have experienced a consistent rise in the value of our stock as a result of the success of the Galileo and our continuing success in improving both gross and operating margins," chairman and chief executive officer Edward L. Gallup said in a news release.

The stock split is the eighth for Immucor since its initial public offering in December 1985, the release said.

Most recently, the company implemented three-for-two splits in June and November 2004.

Located in Norcross, Ga., Immucor manufactures and sells systems used by hospitals, reference laboratories and donor centers to detect and identify certain properties of the cell and serum components of blood prior to transfusion.

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