Manhattan Associates approves stock split

Atlanta-based supply chain software firm Manhattan Associates announced a four-for-one stock split.

The company said Friday its board approved the split in the form of a stock dividend, which will give each shareholder as of Dec. 31, 2013 three additional shares for every share held. The shares will be issued Jan. 10.

A stock split lowers the stock price, but can help to attract more investors because it is less expensive to buy shares.

Manhattan Associates shares closed at $120.42 on Friday afternoon, more than double from $59.09 a year ago.

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