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Exchange to Split Stock, A Move Few Others Undertake Anymore

  • ICE announces 5-for-1 stock split; only five done this year
  • In 1986, 114 companies in S&P 500 Index did stock splits
Updated on

Intercontinental Exchange Inc. is doing something it probably wishes more of the companies it lists would.

The New York Stock Exchange owner disclosed a 5-for-1 stock split along with its earnings Wednesday, an action that will lower its share price to around $56 from its current $278.86. Such steps have been increasingly rare in the past few decades, with just five other companies in the S&P 500 Index doing it this year, compared with 114 in 1986.