Neogen Corp.'s board approved a 4-for-3 split of the company's common stock.
The company will issue new common stock Dec. 29 to shareholders as of Dec. 18.
As a result of the split, the company's outstanding common shares will increase to about 51.5 million from roughly 38.6 million.
This is the company's fifth stock split. The most recent was a 3-for-2 split in October 2013.