RockTenn, the Norcross-based consumer packaging company, said Monday it will do a two-for-one stock split in August.
While the move will double the number of RockTenn shares that current investors own, they don’t get richer from that move alone, because the shares are worth half as much as their previous price.
Investors from Wall Street to Main Street tend to like stock splits because they’re often viewed as a signal that the company’s management sees good prospects for the firm.
But RockTenn’s shares were down 0.6 percent, to $102.18, in late-morning trading Monday, slightly more than the decline in the overall market.
RockTenn said shareholders of record on Aug. 12 will receive an additional share on Aug. 27 for each share they own.
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