Wet Seal Declares 3-for-2 Stock Split

Wet Seal Inc., a Foothill Ranch specialty retailer catering to teens, said its board has declared a stock split that will give shareholders one additional share of common stock for every two shares they own.

The 3-for-2 split, which will be effected as a 50% common stock dividend, will be payable Tuesday to shareholders of record July 16.

Wet Seal stock rose 20 cents to $24.03 a share on Nasdaq.