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Neogen to implement 4-for-3 stock split

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.