MADISON, Wis., April 20, 2016 /PRNewswire/ -- Today, the board of directors of Alliant Energy Corporation (NYSE: LNT) approved a 2-for-1 stock split of the company's common stock. Alliant Energy Corporation's authorized common shares, which are presently 240 million, will be proportionately increased to 480 million to give effect to the split. The number of outstanding common shares will increase from approximately 114 million to 228 million.
Each shareowner of record at the close of business on May 4, 2016 will receive one additional share for every outstanding common share held on that date. The additional shares will be distributed by book-entry on May 19, 2016.
The common dividend payment declared by the board of directors on April 8, 2016 will be paid on May 13, 2016 on a pre-split basis ($0.5875 per share) to shareowners of record at the close of business on April 29, 2016.
The company said the stock split reflects continued confidence in Alliant Energy Corporation's growth and is intended to increase the stock's liquidity and expand the universe of potential shareowners.
Alliant Energy Corporation (NYSE: LNT), headquartered in Madison, Wis., provides regulated electric and natural gas service to 950,000 electric and 410,000 natural gas customers across Iowa and Wisconsin. Alliant Energy's mission is to deliver the energy solutions and exceptional service customers and communities count on – safely, efficiently and responsibly. Interstate Power and Light Company and Wisconsin Power and Light Company are Alliant Energy's two public utility subsidiaries. For more information, visit alliantenergy.com.
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SOURCE Alliant Energy Corporation