United Airlines' Parent Oks Stock Split To Win Investors

CHICAGO - The board of UAL Corp., the parent company of United Airlines, has authorized a 4-for-1 stock split designed to attract small investors to the company's shares.

The board will ask shareholders to approve an increase in the company's outstanding shares at its April 24 annual meeting.

UAL Chairman Gerald Greenwald said the decision was prompted by the stock's steady increase since an employee buyout in mid-1994, as well as "the company's desire to ensure that both small- and large-scale investors" will be able to buy shares.

In late trading, UAL's shares were up $6.50 to $185.125. In the past year, the stock has climbed to as high as $210 from a low of $90.

The company's current stock price is among the top 1 percent of all companies listed on the New York Stock Exchange.

If approved by shareholders, the stock will split on May 6, UAL

said.