Suncor Energy Inc. plans to implement a two-for-one share split of its issued and outstanding common shares. The decision, which has been approved by the company’s Board of Directors, is subject to shareholder and regulatory approval.

Since May 2002, when Suncor shares previously split on a two-for-one share basis, the trading price of the company’s common shares on the TSX has risen from $27.75 to highs of over $109 in 2007. The company had previously completed two-for-one share splits in 1997 and 2000.

Shareholder approval will be sought at Suncor’s annual meeting, scheduled for April 24, 2008 in Calgary, Alberta. Subject to approval, the record date for the share split will be May 14, 2008.

Tags: Suncor Energy